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 <p class="is-style-lead">Beijing is seeking a way to put <a rel="dofollow" title="regulatory" href="https://thebittimes.com/tag/regulatory.html">regulatory</a> burden on the yet-to-be-developed next internet iteration.</p> 
 <p>China is set to form a working group to develop <a rel="dofollow" title="standards" href="https://thebittimes.com/tag/standards.html">standards</a> for the <a rel="dofollow" title="metaverse" href="https://thebittimes.com/tag/metaverse.html">metaverse</a> as the country sees a big future for the technology.</p> 
 <p>According to a report by Reuters, China’s Ministry of Industry and Information Technology (MIIT) has released a draft proposal to establish a working group for the metaverse, putting the technology among emerging tech sectors vital for China.</p> 
 <p>The MIIT claims the metaverse still “faces many challenges,” so the government should keep “healthy and orderly development of the metaverse industry through standardization and guidance.”</p> 
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 <p>Although the ministry admitted that the metaverse represents “an integrated innovation combining various cutting-edge technologies,” it also pointed out the concept of virtual reality still suffers from a lack of clear definitions, allowing capitalists and companies to speculate in the market.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> China’s provinces and cities spending millions for metaverse development 
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 <p>In August 2023, China’s telecoms operator, China Mobile, proposed developing a new system called “Digital Identity System” so that Chinese citizens could identify themselves in a virtual reality by bringing different personal information. The system is also designed to control and improve the behavior of&nbsp;Chinese&nbsp;citizens in the metaverse by keeping different ranks and scores.</p> 
 <p>In the meantime, analysts at JPMorgan suggest that Chinese tech stocks might gain in value if and when the <a rel="dofollow" title="metaverse" href="https://thebittimes.com/tag/metaverse.html">metaverse</a> kicks off. As per their <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, Chinese web giants like Tencent, NetEase, and Bilibili could gain the most from the <a rel="dofollow" title="metaverse" href="https://thebittimes.com/tag/metaverse.html">metaverse</a> development. For the non-web companies, China Mobile, Sony, and Agora could benefit if the country embraces the technology.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Can metaverse reduce environmental carbon emission volumes? 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/china-to-establish-regulatory-standards-for-metaverse-tbt63120.html">https://thebittimes.com/china-to-establish-regulatory-standards-for-metaverse-tbt63120.html</a></p>

China to establish regulatory standards for metaverse

TheBitTimes

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