China Mobile at the forefront of launching a Metaverse Industry Alliance aimed at enhancing digital economic development.

The China Mobile Metaverse Industry Alliance, which consists of 24 notable companies like Huawei, HTC, Xiaomi, iFlytek, Mango TV, and Unity China, was revealed at the Mobile World Congress Shanghai 2023, spearheaded by one of China's major telecom operators, focusing on cultivating the metaverse ecosystem and enhancing the digital economy. launched China Mobile, a state-owned telecommunications giant with a subscriber base nearing a billion, also plays a vital role as a founding member of China's state-supported Blockchain-based Service Network.

Reportedly, the company is poised to provide significant financial backing for various metaverse initiatives.

The alliance's primary focus will include the creation of metaverse content, development of XR devices, advancement of critical technologies, and enhancement of computational networking. During its launch, China Mobile also showcased a range of products intended to reshape public perception of immersive metaverse content in the consumer arena. projected to double over the next three years.

Additionally, China Mobile has rolled out the 'One Fund + 4 Support Policies' to facilitate the operations of the metaverse alliance. This fund intends to offer financial assistance to members, enabling advancements in research, technology achievements, setting standards, product incubation, and innovative content creation. Subsidies for content copyrights, marketing strategies, research, and development will also be provided.

At the press event, Zhao Dachun, Deputy General Manager of China Mobile, underscored the metaverse's significance in intelligent connectivity, framing it as a trillion-dollar opportunity. He stressed its importance in driving China's digital transformation and realizing a robust digital economy.

Through the Metaverse Industry Alliance, China Mobile expresses its intent to work hand-in-hand with industry collaborators to forge a revamped vision for the metaverse sector, revolving around three pivotal concepts: establishing standards to foster systematic front-end development, encouraging resource sharing for holistic growth with partners, and promoting cooperative development that collectively taps into new opportunities within the digital economy.

One member of the Metaverse Alliance, Huawei,

echoed the sentiment that the metaverse represents a significant financial opportunity, aligning with Dachun's assertions. Huawei articulated that the metaverse marks an outstanding prospect for the connectivity sector but emphasized the necessity of fostering openness, interoperability, and accessibility as fundamental pillars of this emerging landscape. said last year Chinese AI Firm iFlytek Launches a Competitor to ChatGPT

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