The White Paper on Innovative Development of Web 3.0 in Beijing Municipality (2023) (hereinafter referred to as the White Paper) was officially released recently.

The White Paper shows that Beijing has taken the lead nationwide in several fields related to Web 3.0, as evidenced by the release of policies and measures for the development of the Web 3.0 industry, the number of innovation-driven enterprises, and scientific research capabilities. Beijing is set to implement a range of measures, which are under development and aimed at promoting the development of key technologies, generic technology platforms, application scenarios, innovation environment, and regulatory frameworks, to facilitate the establishment of an influential global hub of Web 3.0. Additionally, Beijing is firmly dedicated to bolstering the coordination between its municipal and district-level governmental authorities to facilitate distinctive development in different districts throughout the city.

The White Paper also highlights the need for Beijing to enhance its policy implementation and organizational support, to accelerate the research and development of key and cutting-edge technologies and the establishment of platforms for generic technologies. Furthermore, the city shall advance with the development of application scenarios for Web 3.0 and implement effective risk supervision measures to provide an optimal environment for innovative development in this field.

(Source: Beijing Daily)