A guest makes a keynote speech via video link at the meeting on May 26. [Photo/WeChat account of Optics Valley of China]

This year marks the start of the mass production of virtual reality (VR) products in China, with a metaverse-themed investment promotion event held by the administrative committee of the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) on May 26 in Shenzhen, South China's Guangdong province.

More than 80 leading domestic enterprises in the area were invited to the event, including HTC, Tencent, Alibaba, TCL, OPPO, and VIVO.

Guests at the meeting delivered insights into the developing trends, application directions, rules, and technological platforms involved in the metaverse.

With a new round of technological revolution just around the corner, the in-depth integration between digital and real economies has been achieved. The concept of metaverse is being accepted and internalized by industries, and has possibly unlimited potential in future development. The digital culture and creativity industry is seen as the entrance of the metaverse.

Wuhan is a national center of e-sports, animation, games, and livestreaming, and has been thriving in OVC. In addition, a metaverse research institute is currently under construction in the valley.

Statistics show that from 2015 to 2016, 3,296 VR and augmented reality (AR) firms were established. Last year, a total of 3,723 such firms were registered, indicating that VR, AR and metaverse have become new frontiers for entrepreneurship in the new era.