China’s Investment in Blockchain Dropped by 40% in 2019
Main page News, China, Blockchain

According to a study carried out by China's national information and media company Xinhua and the financial data platform Rhino Data, the country's blockchain investment dropped by 40% last year compared to 2018.

Per the data provided, China invested 24.4 billion yuan (around $3.6B) in blockchain in 2019, 40.8% less than the year before.

However, in spite of this drop in comparison to the previous year, there has been a significant increase in the number of agreements compared to 2017. This year only 168 investment agreements were settled, while 2019 saw more than 240 blockchain-related investments.

Xinhua has also reported on the type of investments made. Thus, 43.3% of the investments made in 2019 were made through funding rounds such as Series A funding rounds.

Regarding the activity of the blockchain community in the country, it could be said that during the first half of the year the community was pretty inactive, while during the last 6 months of 2019 there was a significant increase in the number of mergers and acquisitions, probably boosted by the announcement of the digital yuan, china's national crypto.

China has become a very active player in the blockchain field after the country's president Xi Jinping said back in October he wishes China to become an industry leader.

Earlier this month iHodl reported China intends to release its national blockchain network in April 2020.

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