A metaverse will be used for public services, businesses, entertainment, and industrial manufacturing in Shanghai’s five-year plan.
Over the next five years, Shanghai, China’s most populous city, seeks ways to incorporate a metaverse into public services. The five-year development plan for the Shanghai Municipal Commission of Economic and Information Technology’s electronic information industry listed four frontiers for exploration, one of which is the metaverse.
CNBC reported that the metaverse’s use should be promoted in public services, business offices, social leisure, industrial manufacturing, production safety, and electronic games.
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In addition to encouraging further study and development of these technologies, the commission plans to encourage real-time interactions, sensors, and blockchain technology. China’s interest in new technology has been unwavering in recent years. Its development of a central bank digital currency (CBDC) and its use of biometric hardware wallets have positioned it as a leader in issuing a CBDC.
Many of these same exploration fronts were included in China’s five-year development plan released in March. The term “blockchain” was used for the first time in China’s 14th five-year plan, a document outlining the country’s economic goals for the next five years, which runs from 2021 to 2025.
The metaverse has attracted the attention of many major companies in recent months. In October, Facebook changed its name to Meta to capitalize on the term’s popularity. Over 1,000 Chinese businesses have filed tens of thousands of trademark applications that reference metaverse and nonfungible tokens, despite a warning from the People’s Bank of China issued in November.
The South China Morning Post reports that 1,360 Chinese businesses applied for 8,534 trademarks. Baidu, Tencent, and Alibaba are among the Chinese companies working on metaverse technologies. The XiRang app, developed by Baidu, is scheduled to launch in six years.
