₿ Explore the crypto world with us...

₿ EXPLORER
Metaverse

China’s Metaverse Initiative: Huawei, Tencent, and Baidu Taking the Lead!

China’s Ministry of Industry and Information Technology (MIIT) has launched a significant initiative to mainstream the metaverse. This initiative includes the formation of a dynamic working group comprising key industry players such as Huawei, Tencent, Ant Group, and Baidu, along with renowned academic institutions and experts.

MIIT has announced a comprehensive three-year action plan to promote metaverse growth. A primary objective of this plan is to develop and support three to five globally influential metaverse companies by 2025, with a special focus on aiding small and medium-sized enterprises. This strategic approach positions China as a front-runner in the rapidly evolving metaverse landscape.

The action plan highlights the crucial role of advanced technologies such as Artificial Intelligence (AI), blockchain, cloud computing, and virtual reality in shaping the metaverse. By integrating these technologies, China aims not only to set industry standards but also to foster innovation within the Metaverse ecosystem.


China’s Metaverse move: Huawei, Tencent and Baidu play a leading role receivable!

China's Metaverse Initiative

China has initiated financial support measures to aid the development of the Metaverse. These initiatives include tax incentives, wage reductions, and a government commitment to fostering an environment conducive to sustainable growth.

Additionally, acknowledging the global scope of the metaverse, China is actively seeking international collaboration. The MIIT’s working group is set to participate in the establishment of international standards and is open to collaborating with industry leaders worldwide. This approach aligns with the active contributions of Chinese tech giants like Huawei and Tencent in forums like the Metaverse Standards Forum.

Local governments in China are also playing a significant role in the metaverse’s development. For instance, Beijing’s Tongzhou district aims to include over 100 metaverse-related firms by the end of the year.

Shanghai plans to launch a government-backed startup fund, anticipated to raise 1 billion yuan through private funds, further bolstering the metaverse ecosystem.

Aiming to establish a leadership position in the metaverse space, Beijing, in collaboration with MIIT and other authorities, aspires to nurture at least three globally influential metaverse companies.

This goal is set against the backdrop of significant global developments in the metaverse, such as Facebook’s strategic rebranding to Meta Platforms in 2025.

China’s comprehensive approach, combining industry collaboration, technological innovation, financial support, and international engagement, positions the country at the forefront of the global metaverse race.


You may also like this content

Follow us on TWITTER (X) and be instantly informed about the latest developments…

MetaversePlanet

Metaverse Planet is your gateway to the exciting world of artificial intelligence. On this platform, you can find everything related to artificial intelligence:

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Milla Sofia: Fascinating AI Model Shares Striking Visuals 6 Most Followed Cryptocurrencies on Twitter Web 2.0 to Web 3.0 Lacoste Enters Metaverse Artificial intelligence FAQs , About Artificial intelligence Replace your daily applications with AI-powered alternatives ✅ Our Smartphone Applications Discover the Popular Metaverse Coins Binance vs Ethereum Metaverse Ecosystem Founder of Ethereum: Vitalik Buterin How to Enter Metaverse? Gucci Chose Miley Cyrus Avatar for Web3 Fragrance! Those who have been doing Hodl lately are very comfortable. Controversial AI Sensation Milla Sofia Under Fire for Provocative Appearance India’s First Metaverse Wedding: Over 3,000 Guests Celebrate How to Make an Avatar on Instagram? Easy Explanation with Pictures Which Is Your Choice? DOGE or SHIBA ? Fan Token Ecosystem 6 Most Followed Cryptocurrencies on Twitter Top 8 NFT Sales Sites! (Create Paid And Free NFT!) What is Decentraland? (MANA) Coin Before having nft after having This Man Told Everyone To Buy Bitcoin For $1 Just 8 Years Ago Differences between crypto and bank Popular AI Coins