Shenzhen follows Hangzhou’s blockchain lead

The city has become the second in China to launch a fund devoted to the technology.

Shenzhen has set up a RMB500m ($79m) blockchain venture capital fund, China Money Network reported this week.

The announcement follows news earlier this month that Hangzhou had set up a similar, if considerably larger (RMB10bn), fund. Around 40% of the capital for the Shenzhen fund will be provided by Shenzhen Angel Capital Guiding Fund, which is run by the local government.

See more from this Government Report: People's Republic of China

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