China's biggest city Shanghai officially intends to boost the development of innovations such as blockchain, nonfungible tokens (NFTs), metaverse and Web3 in general during its next five-year plan.
On July 13, Shanghai's Municipal Government published the draft of its "14th Five-Year Plan for the Development of Shanghai's Digital Economy". A document sets the mission of "promoting the deep integration of digital technology and the real economy," with "scientists judging technology prospects" and "entrepreneurs discovering market demand".