Shanghai will conduct research in the field of …

Shanghai will conduct research in the field of … post thumbnail image

The technology is included in the list of the four main directions for the development of the information industry.

Metaverse has become one of Shanghai’s four exploration areas in the next 5 years, CNBC reported, citing local media and city government documents.

  • The Shanghai Municipal Commission on Economics and Information Technology has launched a five-year plan for the development of the information industry.

  • The commission called for “encouraging the use of the metaverse in areas such as public services, business offices, social entertainment, industrial manufacturing, industrial security and electronic games,” according to a CNBC translation of the Chinese subtitles.

  • The commission said it plans to expand research and development on the underlying technologies, including sensors, real-time interactions, and blockchain.

  • The terms and goals of research on the metaverse were not specified in the documents, according to the media.

  • In March, Chinese authorities published a five-year plan for the development of technology and science. Metaverse is not mentioned in it.

  • China will increase spending on research and development by more than 7% per year from 2021 to 2025 to pursue “big breakthroughs” in technology. Chinese Premier Li Keqiang told the media about this.

In early December, Microsoft co-founder Bill Gates predicted that over the next two or three years, most virtual encounters would move to the metaverse.

Chinese tech giant Baidu said this week that it would take the company 6 years to build a metaverse.

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