China has announced its intention to establish up to five companies with global influence in the metaverse by 2025. This move will rely heavily on artificial intelligence (AI), blockchain, and virtual reality (VR) technologies. The document, presented on Friday by five Chinese ministries led by the Ministry of Industry and Information Technologies (Miit), also emphasizes the plan to create “three to five industrial clusters” centered around these new technologies. (source)
The document focuses on the utilization of the metaverse in various industries, including household appliances, automobiles, and aerospace. Even traditional sectors like steel and textiles can optimize their production processes with appropriate technologies. The metaverse is an immersive virtual world where digital representations of people can interact with each other, similar to real life. VR technologies, augmented reality, and mixed reality are considered pivotal for the development of the metaverse.
In the long run, China plans to create a mature metaverse ecosystem for industrial use, which will drive new growth in the production field. The main objective of this plan is to leverage the global acceleration of the metaverse industry. Some local governments in China have already initiated policies to encourage metaverse development. For example, the Central Province of Henan, where the world’s largest iPhone production complex is situated, announced its goal to establish a 100 billion yuan industry by 2025.