China unveiled a plan to grow the country's virtual reality industry to $49 billion by 2026


China unveiled an ambitious plan on Tuesday to boost the development of the country's virtual reality (VR) industry to $49 billion by 2026.


According to Xinhua, the plan relates to the development of hardware, software, and applications in the VR industry. The plan, issued jointly by the country's ministry of industry and information technology and four relevant departments, aims to cultivate 100 enterprises with strong innovation ability and industry influence, while VR terminal sales are expected to exceed 25 million units. China also planned to build ten leading VR industrial clusters with regional influence, as well as ten industrial public service platforms, to help the sector grow.

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