China to launch metaverse development plan

The eastern province, where Post-owner Alibaba Group Holding is headquartered, aims to develop metaverse-related industries worth more than 200 billion yuan (US$28.7 billion) by 2025.

The plan, which covers the years 2023–2025, outlined several major objectives, including the creation of a complete supply chain and industry ecosystem, increased innovation, and the promotion of metaverse applications in industries such as e-commerce and entertainment.