China has established a team to promote the development of standards in the emerging metaverse sector, the Yuanverse standardization working group, aiming to support the growth of this industry.

As per the notice released on Friday, the Ministry of Industry and Information Technology (MIIT) has created a working group with officials from the government, academia, and corporations, consisting of individuals from prominent Chinese technology companies, including Huawei, Ant Group, Tencent, Baidu, NetEase, and Sense Time.

The MIIT stated in the document, “It helps reduce redundant investment costs and creates a collaborative force to drive industrial development.”

In a document released in September, the Ministry of Industry and Information Technology (MIIT) expressed that creating fundamental standards, such as defining metaverse terms and establishing reference architecture, could help bring together a common understanding among various stakeholders.

The ministry stated that there is currently no agreement among academic, industry, and research groups regarding the metaverse. They pointed out that the widespread speculation, driven by certain capital and businesses taking advantage of the metaverse’s popularity, has caused the concept to deviate from its actual practical value. This deviation is seen as a hindrance to the development of the metaverse industry.