Metaverse in spotlight at CIFTIS

At the China International Fair for Trade in Services that kicked off last week, cutting-edge technologies and applications in metaverse, such as immersive experience facilities and interactive games, have caught visitors' attention.

In 2021, China's import and export in knowledge-intensive services accounted for 43.9 percent of the total services trade volume, up 10.3 percent from 2012.

According to China News Service, the current production value of the metaverse sector in China has exceeded 40 billion yuan ($5.77 billion), mainly due to the focus on entertainment, VR, AR and hardware. In the next five years, the domestic metaverse market is expected to surpass 200 billion yuan.