From Pioneers to Leaders: China’s Entrance in the Metaverse

The Zhejiang Province has entered the process of developing a metaverse industry that could be worth almost $29 billion by 2025. China only recently started investing in the metaverse, but this plan could ensure China’s leadership in the metaverse market as soon as the project comes to life.

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China's expansion of the metaverse industry

Illustration: Milica Mijajlovic

By 2025, China might deliver cushier and more affordable VR headsets and other accessories. We can also expect the metaverse to turn mainstream in this part of the world. More importantly, we hope to see a never-before-seen virtual reality universe that may outperform current industry leaders.

However, the plan is still in its infancy, but here’s what we know so far.

China Has Big Plans for the Meta-Future

Having launched its first metaverse environment (XiRang) late in 2021, China is a relatively new metaverse player. Baidu, a Chinese multinational technology company founded in 2000, developed XiRang, Chinese’ first metaverse platform. XiRang is also known as the Land of Hope, and it’s already accessible on a broad range of devices.

XiRang metaverse

Source: Xirang Baidu

XiRang quickly gained popularity and can now support roughly 100,000 guests at a time. Although China’s well-received entrance into the metaverse showed we could’ve expected significant advancements from this country, it was still exciting to learn that China isn’t messing around regarding VR development and is getting ready to build its own meta-empire.

China Needs Roughly Four Years to Build a 28-Billion-Dollar Metaverse Industry

Zhejiang, a province in China, published a 4-year metaverse development plan on December 15, aiming to build a $28.7 Billion (200 billion Yuan) metaverse industry by the end of 2026.

Of course, Zhejiang isn’t the first or last Chinese province trying to execute its vision for the metaverse. Since launching the first metaverse environment in China, Shanghai and Wuhan authorities have had similar plans for their provinces. Still, Zhejiang’s multi-billion dollar meta is the most exciting project so far, receiving proper attention in the media, both Chinese and international.

According to South China Morning Post, Zhejiang will round up 10 industry leaders and 50 enterprises experienced in VR/AR, blockchain, and AI industries. Together, they aim to develop a meta-related sector that could be valued at over 200 billion Yuan ($28,7 billion) as early as three to four years from now.

Virtual reality example

Photo illustration: Freepik

Another interesting fact is that the Chinese government seems ecstatic about the upcoming events. According to the Chinese government’s official website, this action plan for the integration and development of virtual reality is a joint force of ministries of information and technology, education, state radio and TV stations, and relevant state bodies in charge of culture, tourism and sports.

Additionally, based on the English version of the original report, the action plan is guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, a set of policies taken primarily from the writings and speeches of Chinese Communist Party general secretary Xi Jinping.

The Actions Needed for the Plan to Succeed

According to the original document from the official Chinese government’s website, the Zhejiang Action Plan proposes five critical tasks for the project’s success.

That said, here’s what we can expect China to accomplish in the following years:

  1. Encourage the fusion and development of necessary VR technologies.
  2. Improve the comfort, usability, and safety of VR products while expanding the industrial supply capacity of virtual reality.
  3. Increase virtual reality’s integration with industry in the following areas: industrial production, cultural tourism, integrated media, education and training, sports and health, business, creativity, entertainment, emergencies, handicap accessibility, and smart cities.
  4. Keep improving the development of the virtual reality sector.
  5. Create a comprehensive standard framework for virtual reality that covers the complete supply chain.

In less than two years, China went from being a metaverse pioneer to urging departments within the country to join forces and begin working on the future of Asia’s next largest metaverse community. So, who knows what this giant might surprise us with next?

Still, one thing’s for sure– if the plans succeed and China manages to build a metaverse empire, this country will likely have one of the world’s most promising and robust metaverse communities.

Jelena is a content writer dedicated to learning about all things crypto. Her hobbies are playing chess, drawing, baking, and going on long walks. During winter, she usually spends her leisure time reading books.