With a new metaverse plan, China’s capital aims to become a benchmark city for the digital economy.
Beijing, a global city and the world’s leading business, finance, and political center, has published its two-year metaverse development plan.
According to the “Metaverse Innovation and Development Action Plan” released on August 23rd, every district in the city will have to get involved in promoting and developing “metaverse-related industries”. The action plan notes that the city is aiming to:
… intensify efforts to attract talents, institutes, and enterprises, strengthen the empowerment of Metaverse underlying technologies, and gather a number of Metaverse technology products, solutions, and innovations to one place.
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The Beijing government’s plan demands districts to get involved in creating Web3-related technological infrastructure. These innovations will be applied in the education and tourism sectors with 3D technology and GIS (Geographic Information System) integrations. Moreover, it instructs to overlook NFT trends and use them to launch new innovations. The plan notes:
Promote digital education scenarios, support in-depth cooperation between Metaverse-related technology companies and educational institutions, expand intelligent and interactive online education models, and develop industry-wide digital teaching platforms.
Based on the government’s plan, Beijing’s Tongzhou District is prepared to work in four industries: extended reality, digital design and art, virtual humans. To ensure successful development, Tongzhou plans to create an investment fund and industrial park for metaverse-related startups.
Other districts haven’t disclosed their plans on participating in the expansion of Web3-related industries.
The action plan also notes that districts and municipalities have to use all necessary means, including financial and human resources, to build high-quality virtual reality.
Previously, Shanghai has introduced a similar initiative aiming to boost its metaverse industry with around $52 billion by 2025. The Shanghai government plans to foster 10 leading “chain-owner” businesses and over 100 smaller ones, as well as establish two metaverse-related industrial parks.