The report “2023 China Metaverse Industry Development Trend Insight” was released recently. According to statistics, China’s metaverse-related patent applications account for nearly 30% of the global total, ranking second in the world.

The report shows that in recent years, national and local policies to support the metaverse industry have been implemented, laying a solid foundation and creating a favorable environment for the future development of the metaverse industry. Beijing, Shanghai, Guangzhou, Zhejiang, Jiangsu and other places have issued policies and special plans to support the metaverse, from multiple perspectives such as technology innovation, industry application, platform construction, etc. A number of metaverse research institutions led by governments, enterprises and universities have emerged, focusing on various industry fields such as industrial metaverse, education metaverse, etc., and actively promoting metaverse technology innovation and industry transformation. Industry applications are gradually unfolding.

The report points out that the development of the metaverse industry will present five major trends: first, the metaverse that coexists with reality will become a new engine for strong economic growth; second, the metaverse technology support system will move from single-point breakthroughs to integrated innovation; third, the metaverse will promote the upgrading of creation, computation, experience and decision-making in all aspects; fourth, high-precision spatial data security will face severe challenges; fifth, a cross-sectoral collaboration and sharing system that adapts to the metaverse will be established faster.