Zhejiang province is pursuing the ambitious goal of creating a metaverse industry estimated at $28.7 billion by 2025.
In Brief
The eastern province of Zhejiang in China has announced plans to nurture metaverse industries that are expected to surpass 200 billion yuan (around $28.7 billion) by 2025.
A number of governmental departments are involved in executing this ambitious initiative.
Zhejiang, recognized as China's eastern province and the base for Alibaba, is developing plans for metaverse-related sectors anticipated to be valued at over 200 billion yuan ($28.7 billion) by 2025. Chinese officials have embraced the metaverse as a viable new industry, and Zhejiang is the latest region to introduce such a strategic plan. SCMP reports .
The newly revealed strategy for 2023–2025 prioritizes several objectives, including the establishment of a robust industrial ecosystem and a comprehensive supply chain, fostering innovation, and encouraging the integration of metaverse applications across a wide array of industries—ranging from entertainment and e-commerce to product design, surgical training, and government services. This blueprint also envisions weaving the metaverse into pivotal economic spheres like manufacturing and healthcare.
In an effort to realize these ambitions, Zhejiang aims to cultivate ten industry frontrunners and support 50 companies specializing in augmented reality (AR), virtual reality (VR), extended reality (XR), artificial intelligence (AI), and blockchain technologies.
Various local government branches—including those responsible for science and technology, public relations, cybersecurity, commerce, and market regulation—are collaborating on the metaverse initiative.
Recently, a leading economic publication in China cautioned against hasty involvement in the metaverse sector.
While the metaverse industry holds intriguing prospects, it may not be suitable for every region. A warning from the South China Morning Post echoed this sentiment, urging caution against fervently jumping into this trend without a clear, realistic understanding of its implications, as highlighted by an article in the State Council's Economic Daily.
Other regions across China, including major cities like Shanghai, Hangzhou, and Wuhan, have rolled out comparable plans to bolster their presence in the metaverse landscape. Notable Chinese tech firms like Tencent and video game developer NetEase Yaotai are among the frontrunners actively building out metaverse opportunities.
In September, China's metaverse sector aimed to sell a staggering 25 million VR headsets and expand the VR market to an impressive $48 billion by 2026. received a $780 million investment . Two months later, China announced plans Alibaba Cloud has introduced its NFT Solution to assist developers in creating their own marketplaces.
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Disclaimer
In line with the Trust Project guidelines Agne is an accomplished journalist who reports on the latest happenings and advancements within the metaverse, artificial intelligence, and Web3 sectors for Metaverse Post. Her passion for storytelling drives her to conduct numerous interviews with industry experts, always aiming to uncover fascinating and captivating narratives. Agne holds a Bachelor’s degree in literature and has a broad background in writing about diverse subjects, including travel, art, and culture. Additionally, she has volunteered as an editor for an animal rights organization, focusing on elevating awareness of animal welfare issues. You can reach her at
