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Bangkok Post
Bangkok Post
Technology

China wants sixfold growth in VR industry in five years

China IDC Beijing Hong Kong Virtual reality Meta metaverse MIIT Pico
A visitor uses a virtual reality headset at the booth of Meta Platforms during Hong Kong FinTech Week in Hong Kong on Monday. (AFP photo)

HONG KONG: The Chinese government wants to expand the country's virtual reality (VR) industry output by 2026 to 350 billion yuan (US$48 billion) - six times the level last year - showing Beijing's ambitions in becoming a world leader in metaverse technology.

The Ministry of Industry and Information Technology (MIIT) and four other agencies on Tuesday published a guideline, setting a national sales target for VR devices at 25 million units by 2026. That is significantly higher than last year's shipments of 3.7 million unit, according to data from a research institute under state-run newspaper People's Daily.

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