The city of Hangzhou in China has released a draft policy document that aims to foster the growth of the metaverse industry in the region and seeks public feedback on the metaverse industry. The document outlines various measures and incentives to encourage innovation and collaboration among metaverse-related enterprises, such as subsidies, tax breaks, talent recruitment, and infrastructure construction.

The metaverse is a term that refers to a network of 3D virtual worlds that are focused on social and economic connection. It is seen as the next generation and evolution of the internet, where people can talk and interact with each other and digital content in more immersive ways, using devices such as virtual reality (VR) and augmented reality (AR) headsets. The draft policy document defines the metaverse industry as a combination of VR/AR technology, cloud computing, artificial intelligence, blockchain, 5G, and other emerging technologies. It also identifies several key areas of development, such as content creation, platform construction, hardware manufacturing, service provision, and industry standards.

According to the document, Hangzhou will become a leading metaverse hub in China and the world by 2025. It plans to establish a metaverse industry alliance, innovation center, metaverse talent training base, and metaverse demonstration zone. It also intends to support the development of metaverse applications in various fields, such as education, tourism, culture, sports, entertainment, e-commerce, and social networking.

The document is open for everyone’s and public feedback on the metaverse industry until January 31. Based on the opinions collected, it is expected to be formally issued and implemented after revisions.