The Chinese government believes in the Blockchain, next goal is intellectual property

As reported by John Butcher on Bloomberg, Beijing is promoting the Blockchain about the intellectual property protection.
National and local authorities have been offering incentives – including subsidizing patent fees, rewards for filings and tax credits tied to patent output – in a medium and long-term strategy to overcome foreign competition. The technological giant Alibaba is also involved in this project.
The law regulates this field, as announced by the Chinese Ministry of Industry and Information Technologyby in a report published last May. However, between 2008 and 2017 the Chinese companies already submitted 550 patent applications on Blockchain, surpassing competitors such as the United States and South Korea.
Finally, past April the government announced more than $9.5 billion (60 billion yuan) in tax cuts to drive innovation for technology companies to implement technological innovation thanks to the Blockchain.