Lin-gang to speed up realization of metaverse in Shanghai

The city of Shanghai set a new target for its metaverse industry last year, when it issued a three-year action plan to incubate the industry in a bid to scale it up to 350 billion yuan ($50.76 billion) by 2025.

Lin-gang Special Area – an important development area and pilot zone for the city's artificial intelligence industry – answered the call by presenting a forward-looking plan for the extended reality (XR) industry.

An XR industry conference was held in the Lin-gang Special Area on Feb 21. Lin-gang issued an action plan at the event, as well as a list of projects and goals for this year.

According to the plan, Lin-gang will strive to develop the overall scale of the XR industry to see revenue exceed 10 billion yuan within three to five years. Focusing on key extended reality components, technologies, terminal equipment, content supply, software and other areas, it will build a number of public service platforms covering the whole industrial ecosystem.

With a total investment of 17.7 billion yuan, 15 key projects in the AI industry were signed at the conference, covering such fields as AR (augmented reality) optical parts and product manufacturing, AI chips, and industrial software.