China: “Virtual reality is a key branch of the digital economy in the next five years”

On behalf of five Chinese ministries, a plan was published according to which the country plans to put 25 million VR devices on the market by 2026.

This is reported by Reuters. Also, according to the publication:

▫️The ministries have identified VR as a key branch of the digital economy within the framework of the 14th five-year plan;

▫️VR also refers to mixed reality (MR) and augmented reality (AR);

It is unclear whether we are talking about total deliveries by 2026 or that by this year the economy should reach an annual production level of 25 million devices (about half a million similar gadgets were put on the market this year);

▫️the turnover of the local VR industry, taking into account the sales of devices and software products for them, by the same year 2026 should reach ¥350 billion (in the region of $ 50 billion).


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