123
The Shanghai Municipal People’s Government laid down its 14th five-year plan for the development of Shanghai’s digital economy. Shanghai is considered the financial capital of China.
The policy paper highlights a roadmap for the development of blockchain technology to power Shanghai’s digital future. It also lays down the government’s plans to construct NFT trading platforms and blockchain business models.
The policy paper establishes Chinese Premier Xi Jinping’s thoughts on socialism with Chinese characteristics as the guiding principle and calls for deep integration of digital technology and the real economy.
Shanghai Calls For Web3-Blockchain Integration
Shanghai government calls for Shanghai’s digital economy to reach 3 Trillion Yuan, roughly 60% of the city’s entire GDP. Blockchain digital infrastructure is supposed to be a key part of the plan.
The government explicitly states the support of leading enterprises to explore the construction of NFT trading platforms and work on the digitization of NFT.
