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Within the space of two years (2023-2025), the government plans to create a more immersive and inclusive environment.
Shanghai Government Reveals Plan to Open Metaverse for Tourism and Culture Development
The tax will be levied on transactions involving virtual assets such as cryptocurrencies and NFTs using blockchain technology.
Shanghai District Becomes First in China to Implement Tax in the Metaverse
In a bid to tackle China's economic recovery after COVID-19, the Shanghai municipal government published a policy paper outlining its game plans in early July. There are 3 key sectors to focus on with metaverse being one of them.
Shanghai Plans to Build Metaverse Industry Worth $52 Billion by 2025