{"id":11290,"date":"2022-11-22T07:30:11","date_gmt":"2022-11-22T07:30:11","guid":{"rendered":"https:\/\/focus.cbbc.org\/?p=11290"},"modified":"2025-04-23T09:36:09","modified_gmt":"2025-04-23T09:36:09","slug":"which-chinese-companies-have-entered-the-metaverse","status":"publish","type":"post","link":"https:\/\/focus.cbbc.org\/which-chinese-companies-have-entered-the-metaverse\/","title":{"rendered":"Which companies have entered the metaverse in China?"},"content":{"rendered":"

Whether it’s a virtual avatar or augmented reality shopping, China’s ‘big three’ \u2013 Baidu, Tencent and Bytedance \u2013 are getting stuck in to the metaverse in China<\/h2>\n

\u201cMetaverse\u201d has become a new buzzword in China, bringing about a host of new and exciting business opportunities. Chinese technology companies have begun testing the water by developing metaverse-type apps, trademarking metaverse-related phrases, and investing in the VR\/AR segment.<\/p>\n

The official attitude toward the metaverse has been mixed so far, but it is clear that the Chinese government increasingly sees the metaverse as a powerful technology of great potential and intends to promote the metaverse as a major innovation and revenue source.<\/p>\n

On 1 November 2022, the Ministry of Industry and Information Technology (MIIT) jointly released a four-year action plan with five other regulators to integrate virtual reality tech with industrial applications. This action plan is regarded as China\u2019s first national-level policy that supports metaverse development. While the policy does not explicitly mention the metaverse, it urges authorities to create the fundamental technologies that support immersive AR, VR and mixed-reality experiences. The plan\u2019s top objective is to achieve significant technological advances in virtual reality by 2026. This calls for innovation in fields like full-body motion capture, gesture, eye, and expression tracking, and technologies for rendering graphics.<\/p>\n

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Which Chinese tech giants are investing in the metaverse?<\/h4>\n

Whether it is about creating a parallel, computerised version of reality, or enhancing the sensorial perception of human experience in the real world, both VR and AR technology represent the premises upon which China is strengthening its version of the metaverse \u2013 which is the natural next step for businesses and startups especially in (but not limited to) the tech world.<\/p>\n

According to a recently published report by Morgan Stanley, Chinese netizens seem to be particularly intrigued by the metaverse (in Chinese: \u5143\u5b87\u5b99 yu\u00e1ny\u01d4zh\u00f2u), and leading Chinese tech firms have already begun to invest in a market that may be worth up to US$8 trillion in the future.<\/p>\n