China’s Ministry of Industry and Information Technology (MIIT) and four relevant departments jointly issued a plan to boost the development of the virtual reality (VR) industry on November 1, according to a Xinhua report.
The plan said by 2026, the total scale of China's virtual reality industry, including related hardware, software, and applications, will exceed RMB350 billion ($48.56 billion).
Meanwhile, the plan aimed to cultivate 100 enterprises with strong innovation ability and industry influence, while the sales of VR device are aimed to top 25 million units.
China also planned to build 10 leading VR industry clusters with regional influence and 10 industrial public service platforms to foster the sector's development, it said.
Breakthroughs will also be made in key technologies and applications as of 2026, said Xinhua.