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Shanghai Plans to Build Blockchain Infrastructure by 2025, Link with Hong Kong and Singapore

Shanghai, China's financial hub, has announced plans to establish a blockchain infrastructure by the end of 2025 and connect with Hong Kong and Singapore for use in various fields such as digital assets, transportation, industrial internet-of-things, supply chain finance, and carbon management.

The government report did not disclose the investment amount. The plan includes building a blockchain network and dedicated computing power clusters to support the city's blockchain ambitions in managing local government affairs, public services, and real-world economy applications.

Shanghai aims to become a global leader in digital-based economies, as per the plan drafted by the Shanghai Municipal Commission of Economy and Informatization. Other Chinese cities, such as Beijing, have also announced blockchain ambitions.

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