The inauguration of the Nansha Metaverse Industrial Cluster takes place in Guangzhou's Nansha district on July 25. [Photo provided to chinadaily.com.cn]

The inauguration of the Nansha Metaverse Industrial Cluster took place in Guangzhou's Nansha district on July 25, during which a document consisting of nine measures promoting the development of the metaverse ecosystem was released.

The document states that Nansha will provide support to the metaverse industry from nine aspects, including technological research, industrial agglomeration, R&D investment, and talent introduction.

For metaverse sci-tech research platforms that make great contributions to sci-tech innovation, a subsidy of up to 200 million yuan ($30 million) will be available, while small and medium-sized enterprises settling in the cluster will be exempted from rent for up to three years.

Xie Wei, deputy secretary of the Nansha Development Zone's Party working committee, said that the cluster will strive to be a new comprehensive service platform for the development of the metaverse industry, offering new vitality and strong support for Nansha's sci-tech innovation, industrial development, as well as urban construction. 

Hu Wen, founder of Nansha-based Guangzhou DeepMirror, spoke highly of the document and noted that Nansha's move of setting up a cluster for metaverse was the first of its kind in China, which has given much confidence to enterprises in Nansha.

He added that it was also impressive that Nansha has been creating an application scenario that allows enterprises to find feasible plans and good opportunities.

In addition, several cooperation projects related to the metaverse were also signed to launch the industry's development.