The Chinese Government’s intentions for governmental Blockchain implementation over the next few years place much responsibility on ministry level. It is the Chinese Government backing up the Crypto Ventures by providing the blockchain-based network for the digital content but irronically Chinese government is moving to clamp down on bitcoin mining operations.

Known for his affinity for the Blockchain and other innovative technologies, the new Commerce Minister Zhong Shan confirms the collaboration “between a level of government” and Red Pulse, a Shanghai-based market research company and also Tron, a non-profit Singapore-based foundation in the global entertainment industry. Zhong Shan is serving as the Commerce Minister of the People’s Republic of China since February 2017.

Last year, Da Hongfei, the Founder of NEO, states he met with government officials to discuss future regulations on the cryptocurrency market. “I do not expect the government to call me in the short-term and say, ‘Lets use NEO as the blockchain technology infrastructure of China.’ But in the medium term? Why not? I think it’s possible” Da Hongfei said.

The Shanghai-based market research company Red Pulse introduced their NEO token, RPX, that will power a brand new content production, distribution, and consumption platform focused initially on China’s capital markets.

The Tron Foundation was also noticed by the chinese government. The first TRON-compatible entertainment app is the Peiwo App with a huge number of users. The company of Peiwo APP is in the list of hightech enterprises identified in 2017 by the Chinese government. This means that Peiwo APP and the online entertainment forms and technologies of its audio content community have been recognized by the government. This also includes the coin called Tronix (TRX).

Companies in other similar industries received $600 billion in investment from the Chinese government over the first five years following the announced focus on strategic industry development and collaboration.

Unfortunately, there are no further details about when the collaboration is set to release.