China’s Shanghai Prioritizes Blockchain, Web3.0, and Metaverse in Three-Year Manufacturing Development Plan

Shanghai, a front-runner in the deployment of emerging technologies in China, has recently announced its ambitious “Three-Year Action Plan for Promoting High-Quality Development of Manufacturing (2023-2025).” This strategic initiative was revealed by the Shanghai Municipal Government Office, highlighting the city’s commitment to accelerating the development of its digital economy with a focus on Blockchain, Web3.0, and the Metaverse.

The plan underscores the role of these three key technologies in shaping the future of the city’s manufacturing industry. Blockchain and Web3.0, both pillars of the next generation digital economy, are spotlighted as integral parts of the city’s digital transformation strategy. By prioritizing these technologies, Shanghai aims to position itself at the forefront of digital innovation and economic growth.

The development of the Metaverse, a term used to describe a virtual-reality space where users can interact with a computer-generated environment and other users, is another pivotal aspect of the plan. This follows the release of the “Shanghai Metaverse Key Technology R&D Plan (2023-2025)” by the Shanghai Municipal Science and Technology Commission on 13 June. The Metaverse initiative integrates local and international industrial development trends, focusing on key technology dimensions such as content, computation, transmission, and terminal technology.

Furthermore, the action plan also outlines the city’s effort to foster the creation of future industries, including the construction of advanced industrial areas like Zhangjiang, Lingang, and the Bay of Large Zero. These locations will serve as the leading areas for future industrial development, marking another step towards Shanghai’s goal of becoming a global tech hub.

With its comprehensive and forward-looking approach, the “Three-Year Action Plan for Promoting High-Quality Development of Manufacturing” is poised to solidify Shanghai’s position as a global leader in manufacturing and digital innovation. This move reaffirms the city’s commitment to embracing advanced technology and digital solutions as key drivers for future economic growth and sustainability.