Shanghai’s Xuhui District supports Blockchain projects

In an important step for the blockchain sector, Shanghai’s Xuhui District has started accepting applications for several blockchain development initiatives scheduled for the second quarter of 2024. The program aims to strengthen the creation of blockchain standards and promote notable business advancements, especially those aligned with “Blockchain+” applications. Companies eager to participate in these projects can receive significant incentives.

What support is provided for standards development?

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

How will major Blockchain companies benefit from this?

Financial support of up to 1 million Chinese Yuan will be provided to companies involved in these initiatives. In addition, the district plans to award one-time incentives of as much as 5 million Chinese yuan to key blockchain companies or model organizations in specific sectors. This effort is part of Xuhui District’s ambition to establish itself as a leading hub for technology and innovation.

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

• 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.
• The registration period runs from November 8 to 12, 2024.

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