No, It's kind of like China's version of Ethereum.
...NEO, which is China’s first original blockchain project, announced the launch of its NEO Smart Contract System 2.0, earlier this month. This also comes along with a re-branding effort from its former identity as Antshares.
In addition, compared to Ethereum’s 15 transactions per second, NEO supports up to 10,000 transactions per second, which is very energy-efficient compared with Ethereum.
https://thenextweb.com/contributors/2017/08/17/heres-neo-plans-top-ethereum-bitcoin/#.tnw_8D0xddGC