The VR market managed to achieve an “explosive” investment growth, not least thanks to the support from the authorities, the Ministry of Industry and Information Technology of China reported.
The officials did not specify how much money Chinese companies attracted in 2021. They also did not tell how things are going this year. But according to Tuoluo Research, in the first half of 2022, the volume of investments, mergers and acquisitions in the field of VR and AR in China reached $871 million. This is 67% more than a year ago.
Earlier, the Chinese authorities called virtual reality a key industry of the digital economy in the next five years.