Business News Report
June 29, 2023

China Mobile Leads Metaverse Industry Alliance for Digital Economy Growth

In Brief

China Mobile, one of the world’s largest telecom companies, has announced the establishment of the China Mobile Metaverse Industry Alliance at the Mobile World Congress Shanghai 2023.

This alliance, comprising 24 prominent companies, including Huawei, HTC, Xiaomi, and iFlytek, aims to foster the metaverse ecosystem and drive the growth of the digital economy.

China Mobile Metaverse Industry Alliance, a joint venture of 24 companies, including Huawei, HTC, Xiaomi, iFlytek, Mango TV, and Unity China, has launched at the Mobile World Congress Shanghai 2023. The alliance, led by one of China’s largest telecoms, aims to foster the metaverse ecosystem and boost the digital economy.

China Mobile Leads Metaverse Industry Alliance for Digital Economy Growth

The state-owned China Mobile is one of the world’s largest mobile network operators, with nearly 1 billion subscribers. It’s also a founding member of China’s state-backed Blockchain-based Service Network. 

Reportedly, the company’s financial support for metaverse projects is projected to double over the next three years.

The alliance will prioritize metaverse content production, XR terminals, key technologies, and computational networks. During the alliance’s reveal, China Mobile also introduced several products to “refresh the public’s perception of immersive metaverse content in the consumer market.”

In addition, China Mobile has unveiled the “One Fund + 4 Support Policies” to operate the metaverse alliance. The fund will provide financing services to alliance members, supporting research, technology breakthroughs, standards, product incubation, and content innovation. China Mobile will offer subsidies for content copyright, marketing, research, and development.

During the press conference, Zhao Dachun, Deputy General Manager of China Mobile, highlighted the metaverse as a significant aspect of intelligent connectivity and a trillion-dollar opportunity. He emphasized that it’s crucial for advancing China’s digital transformation and achieving a digital economy. 

Through the Metaverse Industry Alliance, China Mobile aims to collaborate with industry partners and create a new vision for the metaverse industry based on three key concepts. These include building standards to advance front-end development in an organized manner, promoting resource sharing to foster integrated growth with partners, and embracing win-win development to collectively benefit from the new opportunities in the digital economy.

One of the Metaverse Alliance’s members, Huawei, said last year that the metaverse was a trillion-dollar opportunity, which agrees with Dachun’s statement. According to Huawei, the metaverse presents an exceptional opportunity for the connectivity industry. However, the company emphasized the importance of openness, interoperability, and accessibility to the general public as essential foundations for this emerging technology.

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About The Author

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].

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Agne Cimerman
Agne Cimerman

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].

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