(Yicai Global) March 7 -- The average monthly salary for jobs in China's fast-growing blockchain sector has reached CNY25,800 (USD4,077), up 11 percent since the start of the year, a recruitment report says.

Monthly pay in the sector started to grow rapidly in the second half of 2017, states the report from Beijing-based recruitment firm BossZhiPin Inc., reaching CNY23,200 at the turn of the year. Demand for new hires in blockchain has increased almost tenfold annually in the first two months of the year.

Blockchain, a digital ledger which holds public records of transactions, is best known for its role in cryptocurrencies but has a wide array of uses. Despite shutting down local virtual currency exchanges, China is keen to press on with blockchain development and included the sector in a national strategy document as part of its 13th five-year plan in 2016.

Talent in China's blockchain industry remains scarce at present, said Chang Meng, president of BossZhiPin's research institute, adding that competition for talent will intensify between internet firms, which could result in a salary bubble scenario. 

Only 4.4 percent of workers in the sector earn less than CNY10,000 per month, the report says, while those earning between CNY20,000 and CNY30,000 per month account for 41.7 percent of the total blockchain workforce. Those bringing home between CNY10,000 and CNY20,000 make up 30.9 percent.