China Top Gov says China VR market reached $2.5B in 2017
The VR industry has seen rapid development in China. The country’s VR market expanded 164 percent in 2017 to reach 16 billion yuan (2.5 billion U.S. dollars), according to The Ministry of Industry and Information Technology (MIIT) figures.
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The Ministry of Industry and Information Technology (MIIT) will speed up the creation and revision of industry standards and promote the application of VR technology and products in other areas, said Luo Wen, vice minister of industry and information technology, at a press conference.
China will make policies to support the research and development of core virtual reality (VR) technology and facilitate its integration with other sectors, an official said Monday.