China will set up a working group to develop standards for the virtual universe industry as Beijing seeks to become a global standard setter for new technologies, the Ministry of Industry and Information Technology (MIIT) said on Monday.
On Monday, the ministry released a draft proposal to form a working group on virtual universes that would provide access to shared virtual worlds over the internet. The proposal says virtual universes are one of nine emerging technology areas where China should work to develop standards.
Virtual universes have become one of the hottest technology trends in 2021, but despite the hype, there is no consensus on what constitutes a virtual universe, an issue highlighted by the Ministry of Industry and Information Technology in its proposal.
“[The virtual universe industry] faces many challenges,” the Ministry of Industry and Information Technology said. “There is an urgent need to promote the healthy and orderly development of the virtual universe industry through regulation and guidance.”
It added that the virtual universe industry lacks a clear definition, which allows some capitalists and companies to speculate in the market.
The Ministry of Industry and Information Technology also describes the virtual universe as "an integrated innovation that combines multiple cutting-edge technologies." It is said that the virtual universe will inspire many innovative business models, new business opportunities and digital economic growth.