Chinese entertainment companies are banking on the upcoming metaverse sector for sustained growth and increased audience engagements. Policy support for the sector has been increasing steadily, while companies like Mango TV and Huace Group have already unveiled plans to make movies using metaverse technologies. Wang Zhonglei, CEO of Huayi Brothers Media, a leading entertainment company, said designing virtual characters and celebrities could well be an industry trend in the future. Wang Jianer, President of Shanghai Film Group, said his company has launched a 1 billion yuan fund for digitalization of movies.

Source: https://news.cgtn.com/news/2022-08-19/Increased-policy-support-gives-impetus-to-metaverse-film-sector-1cCTT6ATvXO/index.html