Zhejiang (浙江) is a province in east-central China. It borders Shanghai to the northeast, Jiangsu to the north and Anhui to the west. Zhejiang’s capital and largest city is Hangzhou. Other major cities include Ningbo, Wenzhou, Shaoxing, Jinhua and Taizhou. The name of the province means “crooked river” or “zigzag river”.
The province is known for its natural beauty, with many mountains and rivers as well as coastal areas along the East China Sea. It also has a rich history; it was one of the first regions opened up during China’s reforms in 1978 by Deng Xiaoping. Since then it has become one of mainland China’s most affluent provinces due largely to an influx of private investment from overseas Chinese entrepreneurs who have set up their businesses here since reform began in 1979.
In terms of cryptocurrency adoption, Zhejiang currently ranks amongst some of the more progressive regions within mainland China – while Beijing remains at the forefront when it comes to digital asset regulation (e.g., blockchain technology). In January 2018, authorities in Zhejiang announced plans for a ‘blockchain industrial park’ that will be built near Hangzhou Bay Bridge; this marks an important step towards promoting further innovation within this sector across Mainland China – not only for residents but also foreign investors looking to enter this vibrant market place which continues on its upward trajectory even despite recent regulatory restrictions imposed by central government on Initial Coin Offerings (ICOs).
