Shanghai’s Xuhui District Supports Blockchain Projects

In a significant move for the blockchain sector, Shanghai’s Xuhui District has commenced accepting applications for various blockchain development initiatives scheduled for the second quarter of 2024. The program aims to bolster the creation of blockchain standards and foster notable business advancements, particularly those aligned with “Blockchain+” applications. Businesses eager to engage in these projects stand to gain considerable incentives.

What Support is Offered for Standards Development?

A unique funding opportunity will be made available for the research and development expenses associated with the formulation of international, national, or industry-specific blockchain standards.

How Will Significant Blockchain Enterprises Benefit?

Financial backing of up to 1 million Chinese yuan will be granted to companies involved in these initiatives. Moreover, the district plans to allocate one-time incentives of as much as 5 million Chinese yuan to key blockchain firms or exemplary organizations in targeted sectors. This effort is part of Xuhui District’s ambition to establish itself as a leading hub for technology and innovation.

The application window opens from November 8 to 12, 2024, with businesses currently able to submit their applications. Interested parties must provide both printed and electronic forms of their documents, which should be directed to the Xuhui District Data Bureau. Additional information can be accessed on the official Xuhui District website.

• Xuhui District seeks to support blockchain standards and projects.
• Funding of up to 1 million yuan for standards development.
• Incentives of up to 5 million yuan for key enterprises.
• Application period runs from November 8 to 12, 2024.

This initiative marks an important step in positioning Shanghai as a critical player in the global blockchain landscape, potentially attracting diverse enterprises and fostering innovation within the sector.