Shanghai Action Plan for Cultivating ‘Metaverse’ (2022-2025)

A policy paper released by the Shanghai city government on 8 July 2022 outlined its plan to develop a metaverse industry by the end of 2025.

The development plan refers to the Metaverse as a new generation of information technology integration and innovation that would drive the internet toward Web3. The innovation plan focuses on promoting the development of Metaverse-related industries and helping Beijing build a benchmark city for the digital economy.

The action plan aims at ‘strengthening cutting-edge technological breakthroughs’, focusing on virtual reality headsets, chips, cloud computing, and 5G technology.