Core Insights - Shanghai Future Industry Fund, in collaboration with six other professional institutions, has launched a joint support plan to empower the XR (Extended Reality) industry through a dual-driven model of "financial empowerment + industrial aggregation" [3] - This initiative aligns with the policy directives of the "Three-Year Action Plan for the Innovative Development of the Metaverse Industry (2023-2025)" and the "Shanghai Action Plan for Cultivating the 'Metaverse' New Track" [3] - The financial support system, centered around a 10 billion yuan fund, aims to create a comprehensive financial service system covering the entire lifecycle of enterprises, from startups to mature companies [3] Financial Support System - The financial support system is designed with a "patient capital" philosophy, addressing the high R&D and long-cycle characteristics of the XR industry [3] - It focuses on three stages of enterprise growth: early-stage support for technology transformation, growth-stage optimization of financing channels, and mature-stage facilitation of exit pathways [3][4] - The system encourages the use of diverse financial tools such as technology innovation corporate bonds and intellectual property asset securitization to expand funding [3][4] Industry Layout - Shanghai aims to build a complete XR industry chain ecosystem, driven by whole machine products, from core components to terminal applications [4] - The collaboration with leading AR company XREAL and Google on the AI smart glasses Project Aura exemplifies the full-chain layout, involving core hardware development and supply chain participation from companies like Luxshare Precision and Longqi Technology [4][5] - The industry chain construction emphasizes three key areas: core technology breakthroughs, manufacturing system upgrades, and ecological collaborative development [4][5] Market Potential - By 2027, the scale of Shanghai's smart terminal industry is expected to exceed 300 billion yuan, with AI new terminals reaching a scale of millions of units, providing substantial market support for the XR industry chain [5] - The joint plan identifies industrial metaverse and large-space experiences as core breakthrough areas, promoting the large-scale application of XR technology [5] - XR technology has already been integrated into the entire process of intelligent manufacturing, with examples including the safety metaverse factory by Baowu Carbon and the virtual manufacturing capabilities of Haier Washing Appliances [5]