# Blockchain companies get rent subsidies in China's Fuzhou City By Charissa Echavez Canonical URL: https://www.tokenpost.com/news/technology/2198 Published: 2019-06-12T12:52:25.000Z Updated: 2019-06-12T12:52:25.000Z Section: Technology > Fuzhou City in China is providing rent subsidies for blockchain businesses with the hope to enhance the sector’s growth, according to state-run People’s Daily. Fuzhou City in China is providing rent subsidies for blockchain businesses with the hope to enhance the sector’s growth, according to state-run [People’s Daily](). The grant, which is a part of the city’s “three measures to accelerate the development of blockchain industry,” aims to help the blockchain industry by providing a rent subsidy of up to 600,000 yuan (~$86,800) for 3 years. In addition, conventional companies that will build blockchain applications are also entitled to get a 20% subsidy on the cost of their development. Projects that will be recognized for scientific and technological advancement, or bring change in the city, can also be rewarded with a payment of up to 600,000 yuan. Moreover, constructing industrial blockchain platforms including technology labs and research centers that are recognized by Chinese authorities could get 2 million yuan (~$289,000) and those that can contribute to high-level meetings at provincial, national, and international levels can get up to 1 million yuan ($144,500). Meanwhile, the government of the Indian state of Telangana has released a draft Blockchain Policy to build an ecosystem conducive for blockchain technology, with plans to offer [incentives and subsidies]() for enterprises, startups, and other entities, in a bid to position Hyderabad as one of the top 10 blockchain cities of the world. ## Links in this article - [People’s Daily](http://blockchain.people.com.cn/n1/2019/0611/c417685-31129930.html) - [incentives and subsidies](https://www.tokenpost.com/Telangana-releases-draft-Blockchain-Policy-lures-firms-startups-with-incentives-1999)