China's Metaverse Industry Committee admits 17 new firms

[SHANGHAI] China's Metaverse Industry Committee said on Wednesday (Feb 16) it has admitted 17 new firms, including 3 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 and 2 Shenzhen bourse-listed companies Beijing Topnew Info&Tech and Beijing Quanshi World Online Network Information.

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 have applied for around 10,000 metaverse-related trademarks, according to business tracking firm Tianyancha. REUTERS