China's VR industry aims to exceed $48 billion by 2026

(ECNS) -- China's virtual reality industry, including hardware, software, and applications, is expected to reach 350 billion yuan ($48.12 billion) by 2026, according to a plan released by China's Ministry of Industry and Information Technology on Tuesday.

The country plans to sell more than 25 million VR terminals, cultivate 100 enterprises with strong innovation abilities and industry influence, build 10 leading VR industrial clusters with regional influence and 10 industrial public service platforms to foster development.

There are five major development tasks in the sector: promoting key technology integration and innovation, improving the supply capacity of the entire industrial chain, accelerating VR applications in various industries and scenarios, strengthening the construction of industrial public service platforms, and building a standard system for integration of the application.