The government of the Nanshan District of Shenzhen, China has appear an agreement with the multinational telecommunications and consumer electronics behemothic Huawei to boost the adoption of blockchain, among other technologies, in the region.

According to an April 13 study from local paper The Global Times, the Nanshan government and Huawei will work together to establish the Kunpeng industrial sit-in zone, to accelerate the awarding of blockchain, artificial intelligence, big information and 5G.

Both parties concur that the move should turn the urban center into a model zone for the chip industry and other cut-edge technologies.

Shenzhen every bit a pivotal city for China's blockchain development

The announcement of the strengthening of Shenzhen as a blockchain-friendly city in the country, considered as the commercial connection bespeak between Hong Kong and China, realizes the importance it has for the national regime in the development of such technology.

Equally Cointelegraph reported last yr, Huawei signed a strategic cooperation understanding with the People'south Bank of China (PBoC). Although limited details were fabricated public, the telecommunications giant has been developing measures to strengthen the adoption of blockchain in the state.

In April 2022, Huawei launched its Hyperledger-based blockchain-as-a-service platform, Blockchain Service.

Chinese government and Huawei partnerships in the past

Also, the PBoC announced in September that it had started testing its digital currency in Shenzhen, in conjunction with Huawei and some of the biggest commercial banks in China.

As of press time, Huawei has not released a statement formalizing the annunciation of the agreement with the Nanshan government of Shenzhen, nor has information technology issued additional comments on the matter.