Metaverse wrote into the local government work report: Wuhan, Hefei, and Shanghai are “rushing away”

While attracting the attention of the capital market, the ever-warming Metaverse has also attracted more and more attention from local governments.

According to incomplete statistics from China Securities Journal, China Securities Taurus reporter, Wuhan, Hefei, and Shanghai Xuhui District have all included Metaverse in the new annual local government work report. Zhejiang, Wuxi and other provinces and cities are also in the planning of related industries. The development direction of the Metaverse field is clarified.

Industry insiders pointed out that it is expected that the direction of future policy support will mainly focus on the integration of virtual reality industry and the field of underlying supporting technology, and the supervision of virtual asset speculation may become stricter.

Many governments have proposed to promote the development of related industries

On January 11, the first meeting of the 15th Wuhan People’s Congress opened. At the meeting, Wuhan Mayor Cheng Yongwen proposed in the “Government Work Report” that Wuhan should accelerate the expansion of the digital industry, promote the Metaverse and big data Integrate with the real economy, cloud computing, blockchain, geospatial information, quantum technology, etc., build a national new-generation artificial intelligence innovation and development pilot zone, and build 5 digital economy industrial parks including Xiaomi Science and Technology Park.

According to Cheng Yongwen, in terms of promoting the development of Metaverse, Wuhan will also comprehensively promote the construction of East Lake Science City in 2022, support 7 Hubei laboratories in scientific research, and build 10 benchmark smart factories, 100 digital production lines, and create a batch of hundreds of 100 million yuan service industry agglomeration area.

Hefei had previously achieved rapid economic development by introducing emerging companies such as BOE, NIO, and Changxin. Not long ago, the “Government Work Report” made by Luo Yunfeng, the mayor of Hefei, on behalf of the municipal government to the first meeting of the 17th Hefei People’s Congress, also appeared in the “Metaverse”.

Luo Yunfeng said that in the next five years, Hefei will make a forward-looking layout of future industries, aiming at cutting-edge fields such as Metaverse, superconducting technology, and precision medicine, and creating a group of leading enterprises, cutting-edge technologies and high-end products. In addition, Hefei will cultivate 3 hundred billion enterprises and 300 specialized and special new enterprises, and accelerate the establishment of an advanced manufacturing highland with international competitiveness.

At the 2022 local two sessions held in Xuhui District, Shanghai a few days ago, “exploring the establishment of the Metaverse Innovation Alliance to promote the integrated development of artificial intelligence and cultural creativity, green and low-carbon, and intelligent manufacturing” was also written into the local government work report. It was mentioned at the Economic Work Conference of the Shanghai Municipal Party Committee that it is necessary to “guide enterprises to step up research on important platforms for the interaction between the virtual world and the real society in the future, and make arrangements to cut in in a timely manner.”

Focus on depth application

Although the Metaverse is still in its early stages of development, the attention given to it from various places can be described as not high. In addition to being written into the government work report, the relevant government departments of many provinces and cities have also issued industrial development plans or held symposiums to focus on the development and practical application of the Metaverse industry.

On January 5, Binhu District of Wuxi City released the “Taihu Bay Science and Technology Innovation Belt Leading District Metaverse Eco-Industry Development Plan”, taking Metaverse as an important breakthrough for the Taihu Bay Science and Technology Innovation Belt to lead the digital transformation and new smart city construction. The plan pointed out that it is necessary to focus on the integration of application leadership and scene driving, and promote the in-depth application of Metaverse technology in multiple fields; promote the coordinated development of the upstream and downstream links and entities of the Metaverse industry, and accelerate the integration of the Metaverse with integrated circuits, blockchain, artificial Intelligent, cloud computing and other technologies are integrated and innovative.

The relevant person in charge of the Bureau of Industry and Information Technology in the district also said that in the next stage, Binhu District of Wuxi City will build a Metaverse core industrial zone, a Metaverse innovation incubator, and a Metaverse advanced intelligent manufacturing land, improve the quality and efficiency of resource allocation, and build a Metaverse Spatial layout; By 2025, Binhu District of Wuxi City will basically form a Metaverse industrial ecology with technology leadership, enterprise agglomeration, demonstration applications and complete standards through the agglomeration and development of the Metaverse ecological industry, and become a model for the development of the domestic Metaverse industry .

At the end of 2021, the “14th Five-Year Plan for the Development of Shanghai Electronic Information Industry” issued by the Shanghai Municipal Commission of Economy and Information Technology also mentioned the industrial layout of Metaverse. The plan proposes to strengthen the forward-looking research and development of Metaverse’s underlying core technology and basic capabilities, promote the development of new terminals that deepen perception and interaction, and the construction of systematic virtual content, and explore industry applications.

In mid-November 2021, the Zhejiang Provincial Department of Economy and Information Technology also organized a symposium on the development of the Metaverse industry. The participants agreed that the Metaverse is a new trend in future development, and the exploration and scenarios of Metaverse-related technologies should continue to be accelerated. Excavation, to prepare and lay a solid foundation for seizing the opportunities for the development of the “Metaverse” industry. At the same time, it is recommended that the competent authorities do a good job in the top-level design of the Metaverse industry, increase policy support, and promote the standard construction process.

more cities or follow

For local governments to focus on the Metaverse, Guorong Securities believes that the current government’s attitude towards the development of the Metaverse industry is gradually clear, and the overall bias is positive. Wuhan’s inclusion of the Metaverse in the government work report may trigger a follow-up effect, and other cities may follow suit.

From the perspective of Guorong Securities, local governments are starting to face up to the opportunities and challenges brought by the Metaverse, and follow-up industry support rules and policies are expected to be released one after another. However, at the same time, virtual assets with the Metaverse as a selling point have become popular. After the barbaric growth of the industry, government supervision will be strengthened. It is expected that the supervision of virtual asset speculation may become stricter.

Caixin Securities believes that the main application directions of Metaverse in the media field are virtual and NFT. Virtual people include virtual idols, virtual brand spokespersons, etc., and new investment opportunities are expected in the film, television and marketing fields; NFT is mainly used to confirm the rights of digital assets, and related targets are also worthy of attention.

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