Shanghai to Cook Up a $52 Billion Metaverse Industry by 2025

Shanghai is aiming for the stars – or rather, the metaverse! Shanghai city authorities released a policy paper detailing ambitious plans to build a thriving $52 billion metaverse industry by the end of 2025. This initiative positions Shanghai at the forefront of the global metaverse race, solidifying its commitment to innovation and technological advancement.

On July 8th, the Shanghai municipal government published a policy paper detailing its strategies. The plan, published on July 12, said Shanghai aims to have a CNY3 trillion (USD445 billion) digital economy within three years by focusing on the metaverse, e-sports. Shanghai wants to create more than 100 companies in a plan that focuses on virtual reality and increased connectivity.

What's Driving Shanghai's Metaverse Ambition?

The Shanghai plan targets key areas within the metaverse ecosystem, including:

• Virtual Reality (VR): Developing cutting-edge VR technologies and applications.
• Increased Connectivity: Building the infrastructure needed for seamless metaverse experiences.

A policy paper released by the Shanghai city aims to cultivate a robust metaverse ecosystem with over 100 metaverse-focused companies.

The Future is Metaverse: Shanghai's Vision

With its strategic focus and significant investment, Shanghai is poised to become a major global hub for metaverse innovation. The commercial opportunities within this growing industry are immense, and Shanghai is positioning itself to capitalize on them, further boosting its already impressive digital economy.