Henan Cultural Tourism Investment Group, a state-owned investment enterprise in China's Henan province, has created a 150 million yuan ($21.7 million) private equity fund to finance metaverse ventures. The fund, formed in April, aims to integrate resources in the culture and tourism industry to boost the development of virtual reality and metaverse sectors and build "internationally competitive digital industrial clusters." Henan aims to expand its metaverse industry to 30 billion yuan by 2025, according to an action plan published last October. China has been bullish on the metaverse, with various cities and provinces releasing plans for metaverse expansion. (forkast)