China’s Ministry of Industry and Information Technology has addressed Member Wu Jiezhuang’s proposal on advancing the development of the Web3 industry.
In a document released on December 19, the Ministry acknowledges the importance of Web3, highlighting existing efforts in the country, encompassing policy optimization, technological exploration, application cultivation, and standard development.
The Ministry pledges to enhance collaboration, focusing on top-level design, technical research, and technology promotion. It aims to further harness emerging Web3 technologies like the metaverse and non-fungible tokens (NFTs).
Initiatives highlighted in the response include blockchain policy documents, the establishment of standards committees, and support for research on emerging concepts.
Looking ahead, the Ministry expresses its commitment to fostering innovative collaborations to promote Web3 technological innovation and high-quality industrial development.
This response underscores the country’s dedication to Web3, as demonstrated by the three-year action plan unveiled by the Ministry in September to propel metaverse innovation across industries, prioritizing security and technological advancements.
In the recent unveiling of the Cultural Metaverse White Paper, China showcased applications across various sectors, addressing challenges and opportunities while prioritizing user safety in line with global metaverse trends.
Beyond technological advancements, China is actively considering the potential repercussions of these new technologies and has taken concrete steps to protect users. In an official statement last month, NFT theft was declared a crime, addressing concerns over digital collectible fraud.
