![Chinese City Pledges $1.42bn to Boost Metaverse Industry Growth](https://metanews.com/wp-content/uploads/2023/05/Chinese-City-Pledges-1.42bn-to-Boost-Metaverse-Industry-Growth-1-300x169.jpeg)
Chinese City Pledges $1.42bn to Boost Metaverse Industry Growth
Chinese city Zhengzhou has announced a plan to boost the metaverse industry by providing a significant 10 billion yuan ($1.42 billion) fund for local companies’ growth and development. Although the People’s Bank of China banned digital assets in September 2021,