Contracts worth billions signed at VR conference in East China

A total of 78 projects were signed at the 2020 World Conference on VR (virtual reality) Industry, which concluded Tuesday, with the contracted amount standing at some 66.2 billion yuan (about $10 billion), local authorities said.

The two-day event was held in Nanchang, East China's Jiangxi province. Leading enterprises including Huawei, Alibaba, Qualcomm and HTC have invested in the province, said Yang Guiping, head of the provincial industry and information technology department.

VR and other new-generation information technologies have empowered traditional industries, promoting innovation and helping quality industrial development, Yang said.

A total of 261 projects worth 128.4 billion yuan were signed during the conferences in the last two years.

Statistics show that more than 350 VR-related enterprises have been established in Jiangxi, with the output expected to cross 20 billion yuan this year, a sharp rise from 12 billion yuan in 2019.