Suzhou, a city in China, has unveiled its plan to become a hub for metaverse development and innovation.

The city hopes to attract over 200 companies working in virtual reality technology by 2025, focusing on 30 areas including healthcare, education, tourism, and city administration.

The metaverse-related industries are expected to be worth 200 billion yuan by 2025. Suzhou faces competition from other cities in China including Shanghai, Beijing, Guangzhou, Chongqing, Jinan, and the provinces of Zhejiang and Henan which have also published plans for metaverse development.

In Asia, South Korea is also focused on becoming a top five nation in metaverse development by 2026 and has started “Metaverse Seoul” to provide digital services to residents. The budget for Suzhou’s metaverse development plan has not been disclosed.