China’s Suzhou city sets goal to become metaverse hub by 2025

As reported by Forkast News, the Chinese city of Suzhou has unveiled a roadmap to becoming a metaverse hub by 2025.

According to a Forkast News report, the city aims to become a major attraction for development and innovation in the Metaverse. Suzhou also aims to attract more than 200 companies focused on virtual reality technology in the country by 2025.

The city has not disclosed budget information for the plan, but aims to launch 30 different scenarios, mainly focused on the areas of healthcare, urban planning, tourism and education.

China on the Metaverse

Suzhou is located in Jiangsu Province, China. China’s Beijing, Chongqing, Jinan, Zhejiang, Guangzhou and Henan provinces have announced similar plans to increase their capacity in the metaverse sector.

Despite its anti-crypto stance, China is adopting a more friendly approach to the Metaverse. The country’s capital, Shanghai, will launch his $149 million (1 billion yuan) Metaverse fund in December 2022. The fund aims to develop China’s domestic metaverse industry and promote competition in this sector.

China made its opposition to cryptocurrencies clear when it banned cryptocurrency mining in 2021. Despite lawmakers’ tough approach to cryptocurrencies, China has revealed it has previously confiscated cryptocurrencies worth $3.9 billion.