China’s Suzhou city announced a roadmap to become a metaverse hub by 2025, as reported by Forkast News.
The city aims to become the main attraction for metaverse development and innovation, according to Forkast News report. Suzhou is also targeting to attract over 200 companies that focus on virtual reality technology within its borders by 2025.
Even though the city didn’t disclose budget information for its plans, it is targeting to launch 30 different scenarios that primarily focus on areas of healthcare, city planning, tourism, and education.
China on the metaverse
Suzhou is located in China’s Jiangsu province. China’s Beijing, Chongqing, Jinan, Zhejiang, Guangzhou, and Henan provinces have announced similar plans to improve their capabilities in the metaverse field.
Despite its anti-crypto stance, China adopts a more friendly approach towards the metaverse. The country’s capital Shanghai launched a $149 million (1 billion Yuan) metaverse fund in December 2022. The fund aims to develop the metaverse industry within China and increase competition in this field.
China made its anti-crypto attitude clear when it banned crypto mining in 2021. Despite the lawmakers’ strict approach to crypto, it as revealed that the country holds the crypto it has confiscated so far, which equates to $3.9 billion.
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