Binhu district in Wuxi, Jiangsu province is making major efforts to develop its metaverse industry. [Photo/WeChat account:wxbhfb]

Binhu district in Wuxi, East China's Jiangsu province is stepping up efforts to develop its metaverse industry, local media outlets reported.

On Jan 15, the district unveiled the Yangtze River Delta Metaverse Alliance and a metaverse innovation and entrepreneurship base.

Launched by over 300 institutions and enterprises in the YRD region, the metaverse alliance will conduct cooperation in such areas as internet of things, 5G, VR/AR, artificial intelligence and blockchain.

The innovation and entrepreneurship base will focus on emerging sectors such as industrial internet, cloud computing, and big data to provide technology and talent to facilitate Wuxi's digital transition.

A metaverse industry summit and the finals of the YRD metaverse innovation and entrepreneurship competition were also held that same day. More than 150 scholars and industry experts attended the events to discuss current industry trends.

Many institutes and platforms, such as Jiangnan University and the Wuxi Research Institute of Applied Technologies of Tsinghua University, are located in Binhu. Industries related to the metaverse, like new-generation information technology and IC design, are seeing robust growth in Binhu. This gives the district an edge in developing a metaverse industry, said Sun Haidong, director of Binhu.

According to Sun, the district will introduce more favorable policies and create a better business environment to attract metaverse-related enterprises, investors and talent.