China’s Metaverse Ambitions

In China, the concept of the metaverse is gaining significant momentum, with cities like Nanjing, Shanghai, and Zhengzhou taking proactive measures to advance research and development in this virtual realm. Nanjing introduced the China Metaverse Technology and Application Innovation Platform to leverage academic and enterprise resources to strengthen metaverse-related research. Shanghai is advancing its metaverse goals, forecasting a metaverse industry revenue of 350 billion yuan by 2025. The city has unveiled a range of metaverse use cases, including virtual healthcare diagnoses and digital replicas of historic architectural landmarks.
 
To keep pace, Zhengzhou has unveiled a series of policy blueprints aimed at bolstering metaverse enterprises. With a formidable 10 billion yuan fund dedicated to the city’s metaverse industry, the city is ready to foster growth. Offering alluring incentives, companies relocating their headquarters to Zhengzhou stand to access substantial capital injections and a conducive environment for growth. This endeavour advances metaverse technologies, integrating them into the education and entertainment sectors.
 
China’s committed funding and incentives reflect its determination to lead the metaverse revolution, paving the way for significant advancements in nationwide virtual reality and immersive digital landscapes.


Source: Observer Research Foundation