Zhejiang province of China Plans to Create a $28.5 Billion Metaverse Industry by 2025

China’s Zhejiang province is in motion to build a metaverse industry worth more than 200 billion yuan by 2025, according to the newspaper. South China Morning Post report

Zhejiang Province It’s the latest region in China to expand its plans for a metaverse industry, with reports suggesting the idea was enthusiastically welcomed by local authorities. All of which will contribute to the development plan.

Zhejiang is also home to the headquarters of Alibaba Group Holding, the driving force behind a new plan for the development of the Metaverse industry. “Develop a Metaverse-related industry worth more than 200 billion yuan.”

The news came from an official development plan, according to the South China Morning Post. The plan was also released by the provincial development and reform commission last week.

The development plan is scheduled to begin this year. Slated to 2025, it is also “building a complete supply chain and industrial ecosystem” as well as seeking innovation and promoting the use of the metaverse in various fields. Entertainment of the metaverse as well.

and to achieve the goals set The county is preparing “10 industry leaders and 50 organizations” to deliver planned services. And after that, it will use its “own expertise in the AR, virtual reality, mixed realit, blockchain and artificial intelligence (AI) industries.”

In conclusion, the report stated that Several government agencies are participating in the plan. This includes cybersecurity administration and others.

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