Hainan speeds development of China's 1st blockchain pilot zone

By Chen Shumin / HICN / Updated: 17:35,09-June-2021

As of the end of April, the Hainan Resort Software Community (HRSC), one of the 11 key industrial parks in the Hainan Free Trade Port, was home to 9,206 enterprises, with 3,586 of those having been newly added since last June, accounting for 1/3 of the total number of enterprises in the industrial park.

According to Yang Chun, General Manager of the Hainan Resort Software Community Group, Co., Ltd., the HRSC, regarded as the main platform for the development of the digital economy in Hainan, is moving toward the provincial government’s goal of reaching 400 billion yuan (about 62.56 billion dollars) in output value by 2025 and 10,000 billion yuan (about 1564 billion dollars) by 2035.

Hainan Resort Software Community (Hainan Daily)

With the development of the Hainan Free Trade Port, the HRSC is positioned as a base for digital trade and digital financial innovation, as well as a gathering place for mid-to-high-end talents. In addition, the HRSC has taken the lead in establishing the Hainan Free Trade Port Blockchain Pilot Zone, which has the distinction of being the first and the only national-level blockchain pilot zone.

An action plan titled "Secure, Sharing, Compliance+ (SSC+) Hainan" has been launched in the HRSC, utilizing secure, trusted data sharing and digital governance to facilitate trade in the fields of culture & sports, healthcare, and finance with southeast Asian countries, as well as supporting the development of a national digital service export base.

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