Qingdao's Laoshan gears up to boost VR industry

Qingdao's Laoshan plans to build itself into a hub of VR industry, according to a training session on March 13. [photo/iqilu.com]

Qingdao's Laoshan is striving to boost the development of virtual reality (VR) technology, aiming to build itself into a hub of VR industry, according to a training session on March 13.

The session, attended by more than 300 officials and enterprises representatives from across the country, was held by the Ministry of Industry and Information Technology of China in Laoshan district of Qingdao, Shandong province.

The district plans to promote the innovative application of VR technology, calling for further efforts to foster new growth sources and upgrade traditional ones in information industry. 

Laoshan possess great potential for future development of VR industry. It has 95 quality VR enterprises with the revenue exceeding 4 billion yuan ($595.75 million) in 2018. 

The district also successfully introduced 11 high-end institutes for VR technology research, accounting for 70 percent of China's institutes of this kind.

Next, Laoshan will promote a number of core technologies in the VR field to break new ground by setting up high-quality platforms, and actively integrate VR technology with high-tech industries and other field such as finance and tourism.