Metaverse Industry Association Established in Zhejiang Province

The province of Zhejiang in China, which is also the home of the massive e-commerce company Alibaba Group, launched a metaverse industrial organization on Saturday. The decision comes amid increased competition in the sector among Chinese regional governments and comes after Beijing City established a comparable organization earlier this month.

Metaverse Industry Association Established in Zhejiang Province

The province of Zhejiang announced intentions in December to develop a 200 billion yuan (US$28 billion) metaverse sector by the end of 2025. The foundation of the association by the province’s administration follows those plans.

The provincial government of Zhejiang province is in charge of the non-profit metaverse association. An announcement made on Monday by the Zhejiang Digital Economy Society, one of the association’s founding members, stated that the group would serve as a mediator in metaverse cooperations between businesses and governments, offer training and advice in the area of the metaverse, and assist in the creation of industry standards.

What is the Purpose of the Association?

The state-owned Chinese telecommunications behemoth China Mobile and the Chinese internet technology company NetEase, both of which recently unveiled their own metaverse efforts, are also founding members of the group. The association currently has 91 Zhejiang-based metaverse enterprises as members, and in two years, the group hopes to have 200. The association will form specialized committees for the major industries for metaverse adoption, including healthcare, e-commerce, education, tourism, and entertainment.