Authorities in East China’s Zhejiang province recently issued an action plan to promote the integrated development of virtual reality and related industries.

The plan aims to achieve a scale of over 100 billion yuan ($14.01 billion) for virtual reality and related industries by 2027 in Zhejiang, enhance the entire industrial chain's supply capabilities, cultivate internationally competitive enterprises, and drive the high-quality development of Zhejiang's digital economy.

The plan focuses on advancing key core technologies such as real-time rendering, stereoscopic display, human-machine interaction, and high-performance computing to reach international standards.

It aims to establish a comprehensive virtual reality innovation system with the deep integration of industry, academia, and research, featuring over 1,000 new patents, leading or participating in more than 10 national and industry standards, and fostering more than 30 innovative demonstration application scenarios across various sectors like industrial production, education, culture tourism, e-commerce, sports, smart cities, and competitive entertainment.

Additionally, the plan outlines key tasks, including promoting the integration of the innovation and industrial chains, enhancing industrial competitive advantages, fostering a gradient cultivation system for enterprises and constructing platforms for industry agglomeration and development and the open development of typical application scenarios.

Moreover, Zhejiang will organize and implement major science and technology projects annually to generate globally significant achievements. The province also pledges to coordinate fiscal policies for industrial development, supporting the nurturing of virtual reality-related enterprises and their technological innovation.