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Who are the companies in China’s Blockchain 50 Index?

china blockchain 50 index

On Christmas eve the Shenzhen Stock Exchange, China’s second largest, unveiled the Blockchain 50 Index. Some believe the stock exchange hoped it would become the world’s first blockchain stock market index (as opposed to cryptocurrency index).

All 50 firms are listed below with website and news links.

However, there are numerous caveats. First off, the index attracted a lot of pushback in China including questions about how the companies were selected. Some believe it’s premature for this kind of index. Although blockchain is more mature in China than the West, it is in the early stages globally.

On the flipside, quite a bit of activity is under-represented. As an example of the omissions, the banking and insurance sector are the most active in enterprise blockchain in China, and apart from China’s second largest insurer, Ping An, few financial institutions are represented on the list of 50.

Furthermore, Chinese commentators noted that a large proportion of the 50 companies, as much as 40%, are still at the research stage when it comes to blockchain. Only 10% have mentioned blockchain in their annual reports. For those that earn money from blockchain it only represents a tiny proportion of their revenues.

The other major issue is that some of the biggest technology companies don’t have stock listings in mainland China and hence won’t make the index.

For blockchain hosting, particularly those offering or planning Blockchain as a Service (BaaS) for SMEs, none of the big four have mainland stock listings and hence are excluded. Tencent, is the owner of WeChat Pay and one of the founders of FISCO-BOS, the blockchain technology underpinning the state’s Blockchain Service Network set to launch in April. The tech giant is listed in Hong Kong.

The same goes for Alibaba, which has a dual listing in Hong Kong and the US. It started and owns a third of unlisted Ant Financial, which in turn owns Ant Blockchain and Alipay. The other leading hosting players are Baidu (Hong Kong listing) and Xunlei (Nasdaq listing). Tencent, Ant and Baidu all have a diverse range of blockchain activities.

Other notable exclusions are the two big insurance fintechs. OneConnect, an offshoot of Ping An recently listed on the NYSE and currently has a market capitalization in excess of $5 billion. It might characterize itself as an AI company, but has extensive blockchain activities, especially in trade finance.

Then there’s the online insurer ZhongAn that was founded in 2013 by senior executives from Alibaba, Tencent and Ping An. The Hong Kong-listed company currently has a market capitalization of $46 billion and has a subsidiary, Zhong An Technology, which is a little similar to OneConnect.

The Shenzhen Stock Exchange Blockchain 50 Index
English name Chinese name Sector Blockchain project
Ping An Bank 平安银行 Finance China’s 2nd largest insurer has numerous blockchain activities – news
Tunghsu Azure Renewable Energy 东旭蓝天 Utilities renewable energy blockchain trading – news
Shijiazhuang Changshan Beiming Technology 常山北明 IT working with Tencent on Zhixin Chain – news
Midea Group 美的集团 Manufacturing supply chain management and finance, starting with a billing platform – news
Shunliban 顺利办 IT corporate services blockchain for startups such as incorporation – news
Visual China Group 视觉中国 Media copyright management – news
Kingland Technology 京蓝科技 Construction agricultural production traceability – news
Suning.Com 苏宁易购 Wholesale & Retail product traceability, financial blacklist sharing, supply chain finance and trade finance – news
YGSOFT Inc 远光软件 IT energy blockchain, supply chain finance, product traceability – news
DHC Software 东华软件 IT healthcare, e-governance, blockchain identity – news
Hengbao 恒宝股份 Manufacturing holds several payments and digital wallet patents – news
Tungkong 东港股份 Manufacturing invoicing, payments and bookkeeping – news
Jilin Zixin Pharmaceutical Industrial 紫鑫药业 Manufacturing healthcare, pharma – news
Montnets Rongxin Technology Group 梦网集团 IT cloud (internet-based) communication security – news
Leo Group 利欧股份 IT advertising blockchain – news
GRG Banking Equipment 广电运通 Manufacturing multiple use-cases (supply chain finance, digital asset management etc) – news
Shenzhen Hifuture Information Technology 惠程科技 Manufacturing electricity trade system by unit – news
Shanghai 2345 Network Holding Group 二三四五 IT
Xiamen Anne 安妮股份 IT copyright management – news
Westone Information Industry Inc 卫 士 通 IT researching for network security – news
MYS Group 美盈森 Manufacturing anti-counterfeiting and agri-product traceability – news
S.F. Holding 顺丰控股 Transportation medicines, product traceability and supply chain finance – news
Guangdong Advertising Group 省广集团 Business Support advertising blockchain – news
Dalian Morningstar Netwrk Technology 晨鑫科技 IT blockchain router (hardware), e-sports, ICO soon maybe – news
Whole Easy Internet Technology 众应互联 IT virtual currency mining and developing currency exchanges – news
Kingnet Network ( formerly TAIYA SHOES ) 恺英网络 IT shut blockchain division after CEO arrested, had plans for distributed games – news
JC Finance & Tax Interconnect Holdings 金财互联 IT blockchain invoices – news
HyUnion Holding 海联金汇 Manufacturing blockchain patents and research, unit has supply chain finance blockchain – news
Giant Network Group 巨人网络 IT stake in Ant Financial, invested in a JV developing commodity & supply chain finance blockchain – news
Jiangsu Akcome Science & Technology 爱康科技 Manufacturing blockchain accounting service platform and blockchain digital asset security and management – news
Sinodata 中科金财 IT blockchain as a service, identity management – news
Guangdong Homa Appliances 奥马电器 Manufacturing digital currency research, involved in early prototype CBDC for PBoC – news
Shenzhen Genvict Technologies 金溢科技 Manufacturing toll collection blockchain – news
Hanwei Electronics Group Corp 汉威科技 Manufacturing IoT and blockchain integration – news
Hithink Flush Information Network 同花顺 IT Internet Financial Information Services (still in research phase) – news
Shenzhen Zhongqingbaowang Interaction Network 中青宝 IT unit set up blockchain rersearch centre – news
East Money Information . 东方财富 Finance
The Great Wall Of Culture Group Holding Guangdong 文化长城 Manufacturing under investigation for fake blockchain disclosures – news
XGD INC (formerly Nexgo Inc) 新国都 Manufacturing research on the combination of blockchain technology and payment fields – news
Hand Enterprise Solutions 汉得信息 IT blockchain as a service – news
Beijing Thunisoft 华宇软件 IT judicial blockchain with Ant Financial – news
Jiangsu Hoperun Software 润和软件 IT blockchain trade finance – news
Beijing VRV Software 北信源 IT research; unit has investment in compny developing blockchain certificate platform – news
Shenzhen Ysstech Info-Tech 赢时胜 IT research, asset management and custody blockchain with China Everbright – news
Beijing Tongtech 东方通 IT pharmaceuticals – news
Beijing Sinnet Technology 光环新网 IT blockchain as a service – news
GLOBAL INFOTECH . 高伟达 IT supply chain finance – news
Shenzhen Forms Syntron Information 四方精创 IT working with IBM for cross border payments – news
Beijing Kelan Software System 科蓝软件 IT electronic certification and judicial – news
Shenzhen Huada Gene (unit of BGI Group) 华大基因 Research & Development blockchain as a service for genetic data – news

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