Huangpu strives to establish itself as the primary metaverse destination in Shanghai

Shanghai’s Huangpu District is working to attract global AI companies and professionals, positioning itself as a leading center for AI and metaverse innovation.

The Huangpu Science and Technology Investment Promotion Conference and the 2024 Metaverse Developers Conference were held during the World Artificial Intelligence Conference (WAIC), which started on Thursday.

Experts, company representatives, and investors from China’s digital technology industry discussed new strategies for urban renewal and governance in the context of AI and the metaverse.

Huangpu is creating the “X-Tech” innovation system, with a focus on digital technology and life sciences. Key areas include fintech, data elements, metaverse, humanoid robots, clinical translation, brain-computer interfaces, AI pharmaceuticals, and digital healthcare, according to Shen Shanzhou, director of Huangpu.

During the event, the 2024 Huangpu AI application scenarios list was unveiled, covering culture, healthcare, and commerce.

Taibo Intelligent Unit, a domestic think tank, predicts that China’s metaverse city scale will surpass 100 billion yuan (US$13.8 billion) by 2025, with market maturity expected by 2027. By 2030, China’s metaverse market could reach 850 billion yuan.

With its diverse application scenarios, advanced financial capital, and international cooperation environment, Huangpu aims to emerge as a global metaverse industry hub, as stated by the district government.

Four of Shanghai’s initial 10 major metaverse applications are situated in Huangpu. The district boasts strong policies and infrastructure, including extensive 5G networks, to support metaverse innovation, according to Gao Yun, Party secretary of Huangpu.