Regulations
Regulations for management of block chain information services-CAC
Filing
On March 30, CAC released the first batch of filing list for domestic blockchain information service, including 197 blockchain information services from 18 provinces in China, including blockchain information services from Internet giants and financial companies such as Baidu, Ali, Tencent, Jingdong, lufax, Ping An, Zheshang Bank, Haier Group, and so on.
The 2nd batch of filing list for blockchain information service-CAC
Domestic blockchain information service 1-5 batches
Initial Coin Offering (ICO) Supervision
- August 2017 “Tips on Preventing Risks Related to Investment Absorbed in the Name of ICO”
- September 2017 “Notice on Cleaning up and Rectifying the Financing of Token Issuance”
- September 2017 Announcement on Preventing Financing Risks of Token Issuance
Foward Policies
- In October 2016, the Ministry of Industry and Information Technology issued the White Paper on China’s Block Chain Technology and Application Development (2016), which summarized the development status and typical application scenarios of block chains at home and abroad, introduced the road map for the development of national block chains technology and the future direction and process of standardization of block chains technology.
- In December 2016, “Block Chain” was first written as a strategic frontier technology into the “Circular of the State Council on the Issuance of the 13th Five-Year Plan for National Informatization”.
- In January 2017, the Ministry of Industry and Information Technology issued the “Software and Information Technology Services Development Plan (2016-2020)”, proposing that innovation in areas such as block chains should reach the international advanced level.
- In August 2017, the State Council issued Guiding Opinions on Further Expanding and Upgrading Information Consumption to Continuously Release Domestic Demand Potential, and proposed to carry out pilot application of new technologies based on block chains and artificial intelligence.
- In October 2017, the State Council issued Guidelines on Actively Promoting Supply Chain Innovation and Application. It proposed to study and utilize new technologies such as block chains and artificial intelligence, and establish a credit evaluation mechanism based on supply chain.
- In March 2018, the Ministry of Industry and Information Technology issued Key Points for Standardization of Informatization and Software Services in 2018, proposing to promote the establishment of the National Technical Committee for Standardization of Integrated Management of Informatization and Industrialization, the National Committee for Standardization of Block Chain and Distributed Accounting Technology.
Investigation and Forecast of Block Chains in China 2018-2019 (23 pages) –contact for full version
I.Policy Strategy (19items-2pages)
-China is cautious about Bitcoin but supports block chain technology. Block chains have been written into the 13th Five-Year Plan as a key technology
II.First filing batch of domestic block chain information service firms (197enterprises & background-4 pages)
III.Current industrial ecology status-15pages
- Block chain application has extended from a single digital currency application to various fields of economy and society, such as financial industry, copyright protection, traceability anti-counterfeiting, energy industry, shared economy, Internet of Things and so on.
- Block chain industry is expected to continue to maintain high-speed growth. In 2011, the market size of China’s block chain industry is less than 6 million yuan, and it is expected to exceed 450 million yuan by 2022.
- As of March 2018, there were 456 companies in China which mainly provided block chain technology or services.
- The scale of investment and financing continues to rise, and 397 enterprises were invested in 2018; the amount of financing is 130.627 billion yuan.
- Beginning in 2019, capital is more favored in the field of Eco-information of block chain. The combination of block chain technology and other industries is a hot spot
- China’s Internet giant companies have also laid out the block chain industry, the main entry point is the application of block chain technology in the financial field.