The Chinese Ministry of Science and Technology has approved the launch of a new Blockchain Research Centre in Beijing, with plans to train 500,000 industry professionals in the field. The centre aims to boost China's development of blockchain technology and applications, as well as establish a national-level blockchain network, with a focus on public welfare, finance, intellectual property, and energy industries.

As part of China's drive to establish itself as a global leader in blockchain technology and advance its digital infrastructure, the government has launched an initiative aimed at promoting blockchain development. This initiative gained momentum after President Xi Jinping's endorsement of the technology in 2019, and it was further emphasised in a five-year plan released by the Chinese State Council in 2021, which identified blockchain as a key area for the country's digital economy. The newly established centre will not only foster collaboration with universities and enterprises but also focus on talent training and knowledge sharing within the blockchain industry.

China has been actively exploring blockchain technology, with various projects and initiatives being implemented across the country, including the creation of its own digital currency, the Digital Yuan. The establishment of the new research centre signals China's determination to continue to invest in and expand its use of blockchain technology.