Around 290,000 blockchain firms now operate in China, and almost 75,000 Chinese blockchain startups emerged in 2025, bringing the total to just under 290,000. Beijing’s blockchain-focused five-year plan wrapped up in 2025. That represents the highest growth rate since 2021, when Beijing officially incorporated blockchain development into its economic strategy as part of its 14th five-year plan.
Most new firms are based in South China. Since then, cities across the country have created special blockchain zones where local governments fund and support startups. The 2021 plan included a range of blockchain sector development initiatives for 29 cities and provinces, many in South China. This has manifested itself in a flurry of activity.
Almost a third of the blockchain startups registered last year were based in South China, accounting for 32.5% of the newly registered companies. The number of blockchain-related firms in China has steadily increased year by year over the past decade, Hexun Finance wrote. The growth rate has accelerated since 2019, the year when Chinese President Xi Jinping called on the government and business leaders to prioritise blockchain technology development. In December, the state-owned Huaxia Bank issued over $637 million worth of bonds to digital yuan-paying investors.
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