ANNOUNCEMENT 25 Dec 2018
December 25th, 2018 - The Chinese government released a policy promising increased support for firms involved in the virtual reality (VR) sector.
NUMBER OF INTERVENTIONS
PRC National Development and Reform Commission, December 25th, 2018. (工信部电子﹝2018﹞276号 工业和信息化部关于加快推进虚拟现实产业发展的指导意见)
On December 25th, 2018, the Chinese National Development and Reform Commission released Gongxinbu Dianzi 2018/276, a plan describing measures intended to boost the development of virtual reality (VR) technology in China.
Included in the plan were promises of 'financial support' for all areas of operation pertaining to the VR industry, as well as the 'further expansion of financial channels' by financial institutions to support eligible firms.
The stated goal of the scheme is to ensure that by 2025, China's VR industry is the world leader.