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China ’s top industry pla nner ha s relea sed a new
a ction pla n for developing virtua l rea lity in China . The
a ction pla n outlines key ta rgets for the development
of technologies rela ted to the metaverse up until the
yea r 20 26 a nd proposes key ta sks a nd mea sures for
developing the industry. W e discuss the significa nce of
the pla n a nd look a t w ha t the role of foreign investors
ma y be in the future of China ’s metaverse.
China has released the country’s first national- The 14th FYP calls for innovation of technology,
level policy document for the development of such as 3D graphics generation, dynamic
technologies related to the metaverse, including environment modeling, real-time motion capture,
virtual reality (VR), augmented reality (AR), and and high-speed rendering, as well as developing
mixed reality (MR). VR machines, perceived interaction, and content
collection, and production equipment.
The Virtual Reality and Industry Application
Integration Development Action Plan (2022- The specific 2026 goals of the Action Plan include:
2026) (the “Action Plan”), released on November
2, 2022 by the Ministry of Industry and • Achieving significant breakthroughs in key 3D
Information Technology (MIIT) along with four technologies, VR integration, and immersive
other government departments, provides the audio-visual technology
most comprehensive set of policies yet for
developing China’s metaverse, with key tasks and • Enriching the new generation of human-friendly
development goals for the period up until 2026. VR terminal products
Although the Action Plan does not directly • Making improvements to the industrial ecosystem
mention “metaverse”, it seeks to develop the core
technology upon which the metaverse is built, • Applying VR on a large scale in important
including various sub-fields of VR, AR, and MR, economic and social industries
as well as essential hardware and equipment,
industry supply chains, and governmental • Developing key enterprises and industrial
standards and regulations. clusters with strong international competitiveness
Below we provide an overview of the key tasks Key tasks of the Action Plan
and implementation measures outlined in the
Action Plan and discuss the significance of the The Action Plan highlights five key tasks for the
new policy document for the industry and development of the VR/AR/MR industry over the
foreign investors. next five years:
Background 1. Promoting integrated innovation of key
technologies. This means accelerating
The Action Plan is the latest signal that the Chinese technological breakthroughs in key technological
government is taking the metaverse and related sub-fields, such as near-eye display, graphics
technology very seriously and that it views it as rendering, perception interaction, network
a key industry for China’s future development, transmission, content production, compression
stating that the technology will “profoundly change coding, and security and trustworthiness while
human production and lifestyles”. improving cooperation with 5G and AI.
VR is also listed among the “key industries” 2. Improving the supply capacity of the entire
for the digital economy in the 14th Five-Year industry chain. This will involve improving the
Plan (FYP), China’s overarching economic and supply capacity of key VR devices, terminal
industry development plan for the period from peripherals, business operation platforms,
2021 to 2025. The Action Plan was formulated content production tools, and special
in order to enact this part of the 14th FYP, information infrastructure. The task also
calling upon various local governments and involves improving the comfort, ease of use,
departments to implement measures to foster and safety of the end VR products.
the industry’s growth.
SOUTH CHINA BUSINESS JOURNAL 4
a ction pla n for developing virtua l rea lity in China . The
a ction pla n outlines key ta rgets for the development
of technologies rela ted to the metaverse up until the
yea r 20 26 a nd proposes key ta sks a nd mea sures for
developing the industry. W e discuss the significa nce of
the pla n a nd look a t w ha t the role of foreign investors
ma y be in the future of China ’s metaverse.
China has released the country’s first national- The 14th FYP calls for innovation of technology,
level policy document for the development of such as 3D graphics generation, dynamic
technologies related to the metaverse, including environment modeling, real-time motion capture,
virtual reality (VR), augmented reality (AR), and and high-speed rendering, as well as developing
mixed reality (MR). VR machines, perceived interaction, and content
collection, and production equipment.
The Virtual Reality and Industry Application
Integration Development Action Plan (2022- The specific 2026 goals of the Action Plan include:
2026) (the “Action Plan”), released on November
2, 2022 by the Ministry of Industry and • Achieving significant breakthroughs in key 3D
Information Technology (MIIT) along with four technologies, VR integration, and immersive
other government departments, provides the audio-visual technology
most comprehensive set of policies yet for
developing China’s metaverse, with key tasks and • Enriching the new generation of human-friendly
development goals for the period up until 2026. VR terminal products
Although the Action Plan does not directly • Making improvements to the industrial ecosystem
mention “metaverse”, it seeks to develop the core
technology upon which the metaverse is built, • Applying VR on a large scale in important
including various sub-fields of VR, AR, and MR, economic and social industries
as well as essential hardware and equipment,
industry supply chains, and governmental • Developing key enterprises and industrial
standards and regulations. clusters with strong international competitiveness
Below we provide an overview of the key tasks Key tasks of the Action Plan
and implementation measures outlined in the
Action Plan and discuss the significance of the The Action Plan highlights five key tasks for the
new policy document for the industry and development of the VR/AR/MR industry over the
foreign investors. next five years:
Background 1. Promoting integrated innovation of key
technologies. This means accelerating
The Action Plan is the latest signal that the Chinese technological breakthroughs in key technological
government is taking the metaverse and related sub-fields, such as near-eye display, graphics
technology very seriously and that it views it as rendering, perception interaction, network
a key industry for China’s future development, transmission, content production, compression
stating that the technology will “profoundly change coding, and security and trustworthiness while
human production and lifestyles”. improving cooperation with 5G and AI.
VR is also listed among the “key industries” 2. Improving the supply capacity of the entire
for the digital economy in the 14th Five-Year industry chain. This will involve improving the
Plan (FYP), China’s overarching economic and supply capacity of key VR devices, terminal
industry development plan for the period from peripherals, business operation platforms,
2021 to 2025. The Action Plan was formulated content production tools, and special
in order to enact this part of the 14th FYP, information infrastructure. The task also
calling upon various local governments and involves improving the comfort, ease of use,
departments to implement measures to foster and safety of the end VR products.
the industry’s growth.
SOUTH CHINA BUSINESS JOURNAL 4
