The Shanghai government has maintained an openness towards Web 3 and other blockchain technologies, and now has included them, and others such as NFTs, in its five-year plan, reports Cryptopolitan. According to its latest release, it will foster the development of these technologies to cope with the latest developments.

Various countries and governments have remained friendly towards crypto, creating a favourable environment. One is the Shanghai government, aware of the need for these developments. It has ensured that its citizens remain abreast of the developments compared to the rest of the world. It has adhered to the development principles and provides opportunities for its citizens to explore digital technologies.

It has released the details of the 14th five-year plan specifically focused on developing digital technologies. It will help create and develop a digital economy, attracting capital to the state. It is an opportunity for investors, developers, and other skilled workers in digital technology. 

Here is a brief overview of the Shanghai government’s five-year plan and how it will foster the development of the mentioned technologies.

China has remained one of the leading competitors in developing digital technology. Its government is aware of the global developments and the need to stay relevant in this competition. It is important for it strategically and to fulfil its commercial needs. Therefore, it has been focused on providing a favourable environment for these developments.

The latest came from the largest city in China, Shanghai, where the government has included Web 3, NFTs, and blockchain in the upcoming five-years plan. It published the details of the 14th five-year plan on 13 June, showing a tendency towards developing these technologies. The details show that the Shanghai government is ready to go to any limits to keep itself relevant in this regard.

The mentioned city is directly administered in China. It has taken the initiative in light of Xi Jinping’s vision for the future and its plans for years until 2035. The details show that it is part of the national economic and social development policy outline. According to the outline, it will promote the integration of digital technology and the real economy.

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May 2024


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