22 November 2022, Tuesday, 15:58 375

China sees strong investment in VR in 2021

Редактор: Тимофій Борзенко

Visitors experience virtual reality (VR) devices at the Intelligent Industry & Information Technology exhibition area of the fifth China International Import Expo in east China's Shanghai. Photo by Xinhua/Hou Jun.

China's virtual reality (VR) industry attracted strong investment and financing last year as market players raced to tap the burgeoning high-tech sector. This was reported by The Xinhua News Agency.

The scale of investment and financing in VR more than doubled in 2021, according to the Ministry of Industry and Information Technology.

Currently there are over 10,000 VR-related firms in China, pushing the technology's applications into various scenarios in industry, culture, and education, among others.

Earlier this month, China unveiled a plan to boost the industry's development, aiming to expand its market scale to over ¥350 bln (about $49.4 bln) by 2026.

The plan aims to cultivate 100 top enterprises with strong innovation ability and industry influence, while also aiming to increase the sales of VR to over 25 mln units.

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