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China’s Economy Policy Changes, shopping bag suppliers pay attention

China’s virtual reality industry, including hardware, software, and applications, is expected to reach 350 billion yuan ($48.12 billion) by 2026, according to a plan released by China’s Ministry of Industry and Information Technology on Tuesday.

The country plans to sell more than 25 million VR terminals, cultivate 100 enterprises with strong innovation abilities and industry influence, build 10 leading VR industrial clusters with regional influence and 10 industrial public service platforms to foster development.

There are five major development tasks in the sector: promoting key technology integration and innovation, improving the supply capacity of the entire industrial chain, accelerating VR applications in various industries and scenarios, strengthening the construction of industrial public service platforms, and building a standard system for integration of the application.

Representatives from a total of 145 countries, regions and international organizations will participate in the upcoming fifth China International Import Expo (CIIE) in Shanghai, the organizer said on Tuesday.

Sun Chenghai, deputy director of the CIIE Bureau, said at a press conference that 284 industry-leading enterprises, including some of the world’s top 500 companies, will participate in this year’s expo.

New exhibiting zones will open this year featuring the crop seeds industry and artificial intelligence industry, while hundreds of new consumer, agricultural, technological, and service products will debut at the fifth CIIE.

The World Openness Report 2022 will be released at the Hongqiao International Economic Forum, a sideline event of the CIIE. This year’s forum will hold over 20 sub-forums, according to Sun.

The fifth CIIE will be held in Shanghai from Nov. 5 to 10. As the world’s first import-themed national-level expo, it has been held in the eastern Chinese metropolis annually since 2018.

An exhibition area is pictured at the National Exhibition and Convention Center (Shanghai), the main venue for the upcoming fifth China International Import Expo (CIIE), in east China’s Shanghai, Oct. 31, 2022. The fifth CIIE will be held in Shanghai from Nov. 5 to 10. (Xinhua/Wang Xiang)

NEWS FROM ECNS.CN

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