Beijing is officially China’s top blockchain city, per official rankings, but second city Shanghai placed third behind Shenzhen, its fastest-growing blockchain hub.
These were the conclusions of a special session at the China International Fair for Trade in Services, the first large-scale international financial and trade convention in China since the coronavirus pandemic struck late last year.
The convention, also known as the Beijing Fair, hosted a “Global Fintech Blockchain Summit,” where 83 Chinese cities were given a ranking score of 100 on their blockchain progress.
The organization dubbed the tables the “2020 Chinese Blockchain Innovation Rankings.”
As announced by the state-run media outlet Finance.China.com, the rankings were based on “multiple sources” and “objective data” – which it sadly did not expand upon.
The organizers ranked the cities on their blockchain R&D infrastructure, their level of blockchain industry development, the public popularity of local blockchain-powered offerings, and city-level policy.
In Jiangxi Province, backing up the top 50 was Jiujiang, who scored under 36 out of 100.
But further up the list, Beijing scored a near-perfect 99.82 at the top of the pile, with Shenzhen, the nation’s de facto center of gravity for all things blockchain-related, garnered a score of 91.2. The city is home of over 5,000 blockchain-related firms, per recently released figures.
Shanghai, one of East Asia’s most prominent business capitals, lagged with just under 88%.
Rounding out the top five were Hangzhou with an 86.5% score and Guangzhou with just under 77%.
The report’s authors noted that Beijing and Shanghai benefitted from massive natural advantages in R&D, industrial development, and public awareness, a fact that allowed them to score so high.
The capital also topped the individual rankings in all but one category – local policy – where it was beaten to the top spot by Chongqing, which scored a perfect 100/100 in this field.
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