China’s Suzhou city has set its sights on becoming a hub for metaverse development and innovation by 2025. The city aims to attract over 200 companies specializing in virtual reality technology and launch 30 scenarios focusing on healthcare, city planning, tourism, and education.
“Suzhou is positioning itself as the main attraction for metaverse development and innovation,” said a Forkast News report. “The city is targeting to launch 30 scenarios that primarily focus on healthcare, city planning, tourism, and education.”
While the city has not disclosed budget information for its plans, it is part of a growing trend in China, as cities such as Beijing, Chongqing, Jinan, Zhejiang, Guangzhou, and Henan have also announced similar plans to improve their capabilities in the metaverse field.
Despite its anti-crypto stance, China has adopted a more friendly approach toward the metaverse. Shanghai, for instance, launched a 1 billion Yuan ($149 million) metaverse fund in December 2022 to boost the development of the metaverse industry within China and increase competition in the field.
“China’s capital Shanghai launched a $149 million (1 billion Yuan) metaverse fund in December 2022,” said the report. “The fund aims to develop the metaverse industry within China and increase competition in this field.”
It’s worth noting that while China banned crypto mining in 2021, the country holds crypto it has confiscated so far, which amounts to $3.9 billion. This shows that while lawmakers may have a strict approach toward crypto, they are open to other forms of virtual technology.
In conclusion, Suzhou’s ambitious plan to become a hub for metaverse development and innovation by 2025 highlights China’s growing interest in the field. With its targeting 200 companies specializing in virtual reality technology and 30 different scenarios in healthcare, city planning, tourism, and education, Suzhou is set to be at the forefront of China’s metaverse revolution.