Suzhou Became The Latest Chinese City To Launch Metaverse Initiative

The Chinese city of Suzhou, located in the Jiangsu province, has joined the list of other regions seeking to become metaverse hubs. Accordingly, the city with 12 million residents aims to attract firms in the virtual reality sector by 2025.

What To Expect

According to the city’s metaverse strategy, it plans to build about 30 metaverse applications by 2025. These applications will focus on healthcare, education, tourism, and municipal administration. However, the city’s metaverse development team is yet to reveal a budget for the upcoming projects.

Unfazed by the fierce competition in the country regarding metaverse projects by several cities, the city of Suzhou is targeting virtual technology-based companies to set up shops within its province by 2025. Meanwhile, Suzhou is not alone in its metaverse drive. 

Shanghai, China’s financial hub, is developing its metaverse industry framework. It unveiled its first metaverse fund last December.

Notably, other cities like Beijing, Chongqing, Jinan, and Guangzhou, along with Henan and Zhejiang provinces, are also reported to have published their metaverse development plans. Over the past few years, the concept of the metaverse has been a novel topic for millions of Chinese citizens in China.

Now, the country hosts several metaverse-themed events attended by entrepreneurs, technocrats, and tech-savvy individuals from across the globe and within China. Last year, the country recorded an impressive expansion of its metaverse industry, with several virtual reality technologies attending conferences and other activities geared toward growing the ecosystem.

According to industry observers, this rapid development signifies China’s intent to become the next global tech hub as the country continues its investment in digital infrastructures and merging innovative technologies into applications with significant use cases.

Furthermore, industry insiders expect the metaverse ecosystem to sync with the physical world to accelerate the digital consumption rate and drive China’s economic growth.

Challenges Ahead

Meanwhile, the Chinese metaverse space faces some issues due to difficulty in hardware development breakthroughs and its connection with the real world. However, experts believe the country’s solid digital infrastructures, fast 5G network coverage, and advanced manufacturing system would help smooth out some of these tech challenges.

Blockchain is the underlying technology that drives the development of metaverse infrastructures. However, China is known to have a regulated approach toward metaverse development.

Nevertheless, the country would still want a metaverse ecosystem that aligns with its economic ambition, policies, and the development of its homegrown technical experts. A move that echoes the aspiration of its citizens

As a result, observers opined that there would be more regulations of the Chinese metaverse space in the coming months. Meanwhile, other Asian nations like South Korea aim to become the region’s metaverse hub.

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