The Beijing municipal government on Tuesday announced a two-year Metaverse development and innovation plan (2022-2024) that requires all regions to adhere to the newly released Web3 innovation plan.
The development action plan points to the Metaverse as a new generation of IT integration and innovation that will drive the growth of the Internet towards Web3. The innovation plan focuses on promoting the development of industries related to the Metaverse and helping Beijing build a reference city for the digital economy.
The action plan calls on the different regions to build technological infrastructure at the city level and promote its use in various fields, including education and tourism. The development program will see the integration of technical means such as 3D visualization and GIS (Geographical Information System) to build a digital platform for urban visual space and appropriately progress in planning the original smart digital infrastructure.
Google Translate text of the official document as follows:
“Promoting digital education scenarios, supporting in-depth collaboration between technology companies and educational institutions connected to the Metaverse, expanding smart and interactive online education models, and developing industry-wide digital teaching platforms.”
The Metaverse Development Action Plan also directed counties and municipalities to provide financial and human resources support for the construction of virtual reality. The Beijing municipal government has also called for tracking non-fungible token technology (NFT) trends and exploring regulatory protection programs to support innovation.
While China is known for its anti-crypto stance, the government has shown interest in the Metaverse concept since early 2021. Prior to Beijing, Shanghai also included the Metaverse in its five-year development plan. However, the government’s interest in emerging technology has not resulted in any favorable regulations for technology companies exploring the same idea.
Related Topics: University of Hong Kong Opens Mixed Reality Classroom in Metaverse
As Cointelegraph reported in July, Tencent was forced to shut down one of its two NFT platforms due to lower sales aided by the Chinese government’s regressive monetary policies. Similarly, Alibaba had to hide all references to the NFT market just hours after its launch.
Over the past two months, two major cities in China have announced multi-year business plans with a focus on Metaverse and NFTs. The growing interest on the part of the Chinese government towards driving Web3 technologies may lead to their wider adoption in the country, similar to its central bank digital currency (CBDC), which is being used by millions in the same beta phase.