BEIJING, Dec. 26 (Xinhua) -- China's Ministry of Industry and Information Technology (MIIT) has recently unveiled a guideline to promote development of the virtual reality (VR) industry in two steps.
For the first step, China is expected to form a complete VR industry chain with the application of the VR in depth in the important economic and social sectors by 2020. Several VR industrial technology innovation centers will be built. A development pattern featuring coordinated advancement in technology, products, services and applications will take shape initially.
For the second step, by 2025, China will likely enter the forefront of the world in terms of the overall strength of VR industry, master the key core patents and standards of VR, and boast a number of VR enterprises with strong international competitiveness.
The MIIT also points out that the authorities will increase policy support for development of the VR industry to achieve the above goals.
According to Analysys Think Tank, the global VR industry saw a market scale of 6.4 billion U.S. dollars in 2017. In the following three years, the annual growth rate of the global VR industry will likely exceed 80 percent. From the perspective of market demand, VR will be deeply integrated with industries such as industry, medical care and education. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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