China’s Zhejiang province is putting plans in motion to build a metaverse industry worth more than 200 billion yuan by 2025. The South China Morning Post reported that the home of Alibaba is considering the development that would be worth $28 ,5 billion.

The western province is the latest Chinese region to expand plans for a metaverse industry. The report noted that the concept was enthusiastically received by local authorities. All of whom are participating in the development plans.

Zhejiang province is home to the headquarters of Alibaba Group Holding, the driving force behind new plans to develop a metaverse…