China Blockchain Service Market Research Report By Platform (Ripple, Ethereum, R3, Hyperledger) and By Cloud (Private, Public, Hybrid)- Forecast to 2035

China Blockchain Service Market Overview

As per MRFR analysis, the China Blockchain Service Market Size was estimated at 268.37 (USD Million) in 2023.The China Blockchain Service Market is expected to grow from 346.92(USD Million) in 2024 to 12,322 (USD Million) by 2035. The China Blockchain Service Market CAGR (growth rate) is expected to be around 38.341% during the forecast period (2025 - 2035).

Key China Blockchain Service Market Trends Highlighted

Important patterns that demonstrate the expanding influence of blockchain technology across multiple industries have surfaced in the China Blockchain Service Market. Because it sees blockchain as a major force behind digital innovation and economic progress, the Chinese government has aggressively encouraged its development.

In order to create a favorable environment for blockchain service providers, national plans, including the "14th Five-Year Plan," place a strong emphasis on integrating blockchain with sectors like finance, logistics, and supply chain management.This government support serves as a vital catalyst for the market, promoting cooperation and investment. Additionally, blockchain is receiving growing attention as a way to improve transaction security and transparency.

Businesses in China are using blockchain to protect sensitive data and guarantee non-repudiation in digital transactions as cybersecurity concerns grow. Significant prospects to be investigated are also presented by the emergence of non-fungible tokens (NFTs) and decentralized finance (DeFi) in China.

These developments have increased consumer interest in and funding for blockchain-related initiatives, which has aided in the development of new platforms and services that meet the changing needs of the market. According to recent trends, local businesses and multinational corporations are forming alliances to take use of blockchain technology, creating a vibrant ecosystem.

Furthermore, the growing use of blockchain in government operations seeks to enhance public service delivery and administrative effectiveness, confirming its applicability. All things considered, the development of the China Blockchain Service Market shows a strong trajectory, driven by industry players working together, expanding applications across various industries, and government support.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

China Blockchain Service Market Drivers

Government Support and Initiatives

The Chinese government has been actively promoting blockchain technology as part of its national strategy for economic development. According to the State Council of China, the focus on digital transformation has led to an increased investment in the blockchain sector, aiming to develop a robust digital economy.

The policy directive issued in 2020 highlighted a significant commitment to fostering innovation in technology, with investment expected to surpass several billion dollars by 2025. This proactive stance creates a favorable environment for the China Blockchain Service Market to thrive, as government endorsements tend to enhance investor confidence.

Established organizations such as Alibaba and Tencent have already begun to leverage blockchain in various applications, paving the way for broader acceptance and utilization of these services in China. This integrated approach demonstrates the government's commitment to positioning blockchain as a cornerstone of its future technological landscape.

Rising Demand for Transparency and Security

With increasing concerns over data security and transaction transparency, there has been a notable rise in demand for blockchain technologies across various sectors in China. Recent studies indicate that over 70% of enterprises in China are prioritizing the implementation of blockchain solutions to enhance transparency in their operations.

The financial services sector, for instance, has seen significant improvements in operations, with organizations like the Industrial and Commercial Bank of China (ICBC) adopting blockchain for better traceability of transactions.

Furthermore, the need for secure supply chains has prompted firms in the manufacturing and logistics industries to explore blockchain solutions, ensuring that product lineage is accurately maintained. As a result, the growth of the China Blockchain Service Market is bolstered by this demand for enhanced security protocols and transparency in business dealings.

Increased Investment from Private Sector

The private sector in China has experienced a surge in investment towards blockchain development, signifying robust confidence in the technology's potential. According to industry reports, private investments in blockchain ventures have seen an annual growth rate exceeding 50% over the past two years.

Companies such as Baidu and JD.com are significantly investing in blockchain Research and Development (R&D) to streamline their operations and improve customer satisfaction.

This influx of private capital fuels innovation, research, and deployment of blockchain services, which, in turn, propels the growth of the China Blockchain Service Market. With continuous advancements and innovative solutions, China is positioning itself as a global leader in blockchain technology, further promoting market expansion.

Adoption of Blockchain in Traditional Industries

China's traditional industries are progressively adopting blockchain technology to improve operational efficiency and reduce costs. A report from the Ministry of Industry and Information Technology indicates that approximately 60% of enterprises in the manufacturing sector are now integrating blockchain with the aim to optimize supply chain processes.

Both state-owned enterprises and private companies are recognizing the benefits of using blockchain for real-time data sharing and enhanced contract management. Companies such as China National Petroleum Corporation are implementing blockchain solutions to enhance operational transparency.

The movement towards blockchain adoption within traditional sectors not only facilitates a seamless transition but also significantly contributes to the growth of the China Blockchain Service Market, reflecting a strong shift towards modernization and efficiency.

China Blockchain Service Market Segment Insights

Blockchain Service Market Platform Insights

The Platform segment of the China Blockchain Service Market is increasingly vital, acting as the backbone for various decentralized applications and services. This segment encompasses prominent platforms such as Ripple, Ethereum, R3, and Hyperledger, each contributing uniquely to the landscape of blockchain technology.Ripple is known for its focus on facilitating international money transfers and enhancing the efficiency of cross-border transactions, thereby making it a significant player in the financial sector.

Moreover, Ethereum, with its smart contract capabilities, has established itself as a leading platform for decentralized applications, powering a vast array of projects ranging from finance to supply chain management.Meanwhile, R3 has emerged as a critical player in enterprise-level blockchain solutions, helping large institutions leverage blockchain technology for various applications in finance and asset management.

Hyperledger, on the other hand, provides a collaborative framework for organizations to build their private blockchain solutions, enhancing security and privacy, which is particularly relevant in industries like healthcare and logistics where data protection is paramount.The growing interest in these platforms aligns with the broader trend of digital transformation in China, driven by government initiatives aimed at promoting blockchain adoption across various sectors.

Thus, innovation in the platform segment is not only fundamental for technological advancement but also for positioning China as a leader in the global blockchain ecosystem, creating substantial opportunities for businesses and fostering an environment conducive to growth and development in the blockchain space.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Blockchain Service Market Cloud Insights

The Cloud segment within the China Blockchain Service Market has seen substantial growth, reflecting the increasing demand for scalable and efficient technology solutions across numerous industries. The Cloud segment includes various service models, notably Private, Public, and Hybrid, each offering distinct advantages tailored to different organizational needs.

Private clouds are favored for their enhanced security and compliance, making them crucial for industries like finance and healthcare that require strict data governance. Public clouds, on the other hand, provide scalability and cost efficiency, appealing to startups and smaller enterprises seeking rapid deployment and flexibility.

Hybrid clouds are increasingly popular, allowing businesses to leverage both public and private infrastructures, offering a balanced approach to data management. This diverse segmentation enables the China Blockchain Service Market to cater to a wide range of clients, driving market growth and adoption.

As China's government emphasizes blockchain integration across sectors, the Cloud segment is expected to play a pivotal role in enhancing transparency, security, and operational efficiency in various applications, fueling the sector's future development and innovation.

China Blockchain Service Market Key Players and Competitive Insights

The China Blockchain Service Market is rapidly evolving with increasing interest from various sectors, such as finance, logistics, and supply chain management. As a result, there is heightened competition among companies providing blockchain solutions. Numerous entities are striving to innovate and enhance their offerings to capture market share, making the landscape vibrant yet challenging.

The competitive insights in this market highlight the strategic partnerships, technological advancements, and regulatory compliance that companies need to focus on to gain an edge. Firms are exploring various use cases while also ensuring that they align their solutions with the Chinese government's policies promoting blockchain technology across different industries.

This competitive milieu is characterized by a mix of established enterprises and emerging start-ups, all aiming to leverage blockchain’s potential for secure, transparent, and efficient transactions.InBlockchain stands out in the China Blockchain Service Market due to its unique offerings and robust market presence. The company focuses on providing comprehensive blockchain solutions that cater specifically to localized business needs. Its dedication to research and innovation has led it to develop several proprietary technologies that enhance transaction efficiency and security.

InBlockchain has also forged strategic partnerships with several key industries, reinforcing its position as a leader in the market. Its strengths lie in its adaptability to the rapidly changing tech landscape and its ability to navigate China’s regulatory environment effectively.The company’s strong emphasis on community building and education in blockchain technology positions it favorably among peers, granting it a competitive advantage.

Hyperchain also plays a significant role in the China Blockchain Service Market, offering a variety of products and services tailored specifically for Chinese enterprises. The company focuses on providing decentralized solutions that ensure data integrity and security across different sectors.

Hyperchain’s products are designed for scalability and interoperability, giving it a competitive edge in attracting large corporations looking for robust blockchain integrations. The company's strategic approach includes ongoing research and development, which has allowed it to stay ahead of technological advancements.

Furthermore, Hyperchain has pursued mergers and acquisitions to enhance its technological capabilities and expand its market reach, reflecting its commitment to sustained growth within China. Its strengths are evident in its strong customer relationships, a diverse portfolio of blockchain applications, and a clear understanding of local market dynamics, allowing it to cater effectively to Chinese businesses.

Key Companies in the China Blockchain Service Market Include:

• InBlockchain
• Hyperchain
• ChainTech
• China Mobile
• Ping An Technology
• VeChain
• Ant Financial
• UnionPay
• Nanjing JN Electric
• Alibaba
• YuanChain
• Tencent
• xunlei
• Baidu
• JD.com

China Blockchain Service Market Developments

Tencent stepped up their blockchain efforts in February 2024 with the release of the TrustSQL platform, hundreds of blockchain-related patents, and an accelerator program to support supply chain and digital asset applications, among other industrial blockchain breakthroughs.

Tencent Cloud's first Web3-native product, a Blockchain RPC service that supports Ethereum, BNBChain, and Polygon, was published in September 2023 in partnership with Ankr. This solution allows developers to implement scalable blockchain infrastructure.

Shanghai previously announced in August 2023 that it will develop an integrated blockchain digital infrastructure by 2025 with the goal of revolutionizing supply chain, banking, and urban government systems. Alibaba Cloud's Web3 division reportedly introduced adaptable cloud solutions in June 2024 to assist blockchain businesses by offering Web3 infrastructure, smart contract frameworks, and safe architecture.

In the meantime, Ant International, which separated from Ant Group in late 2024, released its first sustainability report in June 2025, highlighting its collaborations with international banks such as Deutsche Bank, HSBC, and BNP Paribas, as well as its AI-enhanced cross-border payment platforms, such as Alipay+ and tokenized deposit services.

As JD.com and Ant Group pushed for permission to establish yuan-backed stablecoins abroad, Hong Kong stablecoin efforts were also gaining pace. This indicated a strategy shift toward using blockchain to internationalize digital currencies throughout the area.

China Blockchain Service Market Segmentation Insights

Blockchain Service Market Platform Outlook

• • Ripple
  • Ethereum
  • R3
  • Hyperledger

Blockchain Service Market Cloud Outlook

• • Private
  • Public
  • Hybrid

 

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	268.37(USD Million)
MARKET SIZE 2024	346.92(USD Million)
MARKET SIZE 2035	12322.0(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)	38.341% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Million
KEY COMPANIES PROFILED	InBlockchain, Hyperchain, ChainTech, China Mobile, Ping An Technology, VeChain, Ant Financial, UnionPay, Nanjing JN Electric, Alibaba, YuanChain, Tencent, xunlei, Baidu, JD.com
SEGMENTS COVERED	Platform, Cloud
KEY MARKET OPPORTUNITIES	Decentralized finance solutions, Supply chain transparency, Digital asset management, Regulatory compliance tools, Cross-border payment systems
KEY MARKET DYNAMICS	regulatory support, growing enterprise adoption, increasing investment, technological advancements, enhanced security features
COUNTRIES COVERED	China