China’s Metaverse Industry Committee admits 17 new firms


SHANGHAI (Feb 16): China’s Metaverse Industry Committee said on Wednesday it has admitted 17 new firms, including three listed companies, according to a post on an official website.

The state-backed China Mobile Communications Association’s Metaverse Industry Committee was set up in October, although analysts say the country’s metaverse will be subject to more control than elsewhere.

The committee said it had admitted listed firms including Inly Media Co Ltd and two Shenzhen bourse-listed companies Beijing Topnew Info&Tech Co Ltd and Beijing Quanshi World Online Network Information Co Ltd .

The notice was posted on the China Mobile Communications Association Metaverse Consensus Circle website.

Experts say China’s metaverse efforts lag countries such as the United States and South Korea, citing less investment by domestic tech giants.

But interest has begun to surge. In the past year, more than 1,000 companies including heavyweights such as Alibaba Group Holding and Tencent Holdings Ltd have applied for around 10,000 metaverse-related trademarks, according to business tracking firm Tianyancha.