Shanghai releases five-year plans for metaverse development
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Joggers, Shanghai, China on April 10, 2021
Bloomberg | Bloomberg | Getty Images
BEIJING — China’s biggest city is getting serious about the metaverse, the technology that’s drawn mass attention this year for its potential to form the next generation of the internet.
Chinese local government agencies and government departments have released five-year development plan this year in order to demonstrate their ability to implement March’s five-year-old central government plan.
According to Chinese media reports, the Thursday Shanghai One contained the first reference of the metaverse. Technology extends human interaction to virtual worlds of avatars three-dimensional.
In its five year plan to develop the electronic industry, Shanghai Municipal Commission of Economy and Information Technology stated that the metaverse was one of the frontiers of exploration.
According to CNBC’s translation, the Chinese text called for the “encouragement of the use of the metaverse” in areas like public services, business offices and social entertainment.
According to the commission, it intends to expand research into underlying technologies such as sensors and real-time interactions and blockchain.
It did not set out any timelines or specific goals for metaverse development and research.
Beijing has released its latest 5-year plan in March. seven “frontier” technologies China would focus on as it seeks self-reliance in science and technology.
With the American social media giant Facebook changing its name, metaverse became a trendy word. MetaIt was October. Then, earlier in the month. MicrosoftBill Gates, co-founder of Microsoft Corporation stated that he believes most virtual meetings will be moved to the metaverse in the next two or 3 years.
Beijing is the focus of this week’s Weekly Briefing BaiduChina’s first ever conference on the metaverse was held. A representative of Baidu stated that this event marked the official opening of Baidu’s metaverse application to developers. six years before the full launchThe app.
The state media also published articles about Chinese scams in the context of the metaverse buzz generated by Chinese social media.
New rules for metaverse development could be next after a year’s worth of regulations and bans on technology. Winston Ma (an adjunct professor of law) said this Friday, CNBC’s “After the Bans” segment.Squawk Box Asia.”
Ma pointed out that some aspects of global metaverse development were related to cryptocurrency products such as non-fungible tokens and gaming. All of these have been subject to greater scrutiny in China. Ma did not speak in relation to the Shanghai commission’s specific development plans.
— CNBC’s Eustance HuangThis report was contributed by you.
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