{"id":79401,"date":"2023-05-26T16:01:04","date_gmt":"2023-05-26T13:01:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79401"},"modified":"2025-09-11T10:50:12","modified_gmt":"2025-09-11T07:50:12","slug":"zhengzhou-to-build-hub-for-metaverse-focused-startups","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/zhengzhou-to-build-hub-for-metaverse-focused-startups\/","title":{"rendered":"Zhengzhou to build hub for metaverse-focused startups"},"content":{"rendered":"<p>Authorities in Zhengzhou (Henan province, PRC) published<a href=\"https:\/\/fgw.zhengzhou.gov.cn\/suggesting\/7458712.jhtml\"> a project<\/a> to launch a hub for <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-metaverse\">metaverses<\/a>-focused startups. As part of the initiative, a dedicated fund of 10 billion yuan ($1.42 billion) will be created to develop the industry.<\/p>\n<p>According to the document, companies that decide to relocate their headquarters to Zhengzhou can expect investments of up to 200 million yuan ($28.34 million). Startups will also be entitled to other incentives, including housing rent subsidies.<\/p>\n<p>Authorities intend to cooperate with other government agencies and investment firms to secure an additional 50 billion yuan ($7.08 billion).<\/p>\n<p>The city plans to offer cash incentives to companies after listing their shares on China&#8217;s main stock exchanges.<\/p>\n<p>If city authorities deem any of the proposed use scenarios viable, companies could receive up to 5 million yuan ($710,000) per project.<\/p>\n<p>Among the listed directions:<\/p>\n<ul class=\"wp-block-list\">\n<li>blockchain;<\/li>\n<li>computer rendering;<\/li>\n<li>brain\u2013computer interfaces;<\/li>\n<li>artificial intelligence.<\/li>\n<\/ul>\n<p>The project also aims to create a market for digital assets using NFTs.<\/p>\n<p>The policy applies to local firms operating in two sectors:<\/p>\n<ul class=\"wp-block-list\">\n<li>research activity focused on metaverse-related technologies \u2014 <span data-descr=\"virtual reality\" class=\"old_tooltip\">VR<\/span>, <span data-descr=\"augmented reality\" class=\"old_tooltip\">AR<\/span> and brain\u2013computer interfaces;<\/li>\n<li>the use of virtual-world technologies in real industries such as education, entertainment and commerce.<\/li>\n<\/ul>\n<p>Officials expect that by the end of 2025 the annual revenue of metaverse-related industries will exceed 200 billion yuan ($28.34 billion).<\/p>\n<p>Earlier this week, Nanjing <a href=\"https:\/\/forklog.com\/en\/news\/china-launches-a-state-platform-to-develop-the-metaverse\">launched<\/a> a &#8220;platform for innovative blockchain technologies and applications,&#8221; aimed at promoting and developing metaverses.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Authorities in Zhengzhou (Henan province, PRC) published a plan to launch a hub for metaverse-focused startups. As part of the initiative, a dedicated fund of 10 billion yuan ($1.42 billion) will be created to develop the industry.<\/p>\n","protected":false},"author":1,"featured_media":79402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[133,1353,36],"class_list":["post-79401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-china","tag-metaverses","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"41","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=79401"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79401\/revisions"}],"predecessor-version":[{"id":79403,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79401\/revisions\/79403"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/79402"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=79401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=79401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=79401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}