Page 8 - THE SOUTH CHINA BUSINESS JOURNAL
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PTH accelerating the pace of international
market development.
3. Accelerating multi-industry and multi-scenario
applications. This will require deepening the organic Significance of the Action Plan and
integration of VR and industries with the potential the role of foreign investment
for large-scale or specialized implementation, such
as industrial production, cultural tourism, integrated The Action Plan is the clearest sign yet that the
media, education and training, sports and health, Chinese government is banking on VR technology and
business, performing arts and entertainment, safety the metaverse to become the next big thing in the
and emergency response, disability assistance, digital space. As with other emerging technologies
smart cities, and more. – such as autonomous driving – China wants to
ensure that it will not be playing catch-up with other
4. Strengthening the construction of the industrial countries to develop a home-grown industry.
public service platform. This includes building a
common application technology support platform, More generally, one of the core goals of the Chinese
an immersive content integrated development government for the coming decades is to achieve
platform, and an integrated application incubation technological self-sufficiency. This was a core tenant
and cultivation platform to increase support for of the 20th Congress Party report, which sets the
the development of the VR industry. overarching policy agenda for the period until 2027.
5. Building an integrated application standards For this reason, if in the near or longer-term, future
system. This involves strengthening top-level humans will indeed be spending significant amounts
standards and building a comprehensive VR of time in virtual worlds, the Chinese government
standards system for technologies that are safe will want to ensure that the domestic industry is not
and trustworthy, including near-eye display, reliant on foreign technology and has the capacity to
graphics rendering, perceptual interaction, run the metaverse independently of other countries.
network transmission, content production, and This will not only help support the economy through
compression coding. the development of a potentially lucrative and high-
growth industry but will also put Chinese regulators
Measures for achieving the goals in a better position to shape the development of the
industry and ensure it abides by Chinese laws
The Action Plan proposes a number of measures and regulations.
for achieving the development goals. Many of
these focus on how government departments This, however, does not mean that China’s VR
should work together and guide the industries’ industry and metaverse will be limited to domestic
development, pilot projects, and talent cultivation. players. China has long aligned foreign investment
Specific measures include: policies with its core development and industry goals.
The Catalogue of Encouraged Industries for Foreign
• Promoting the integrated development of Investment (2022 Version)actively encourages the
large and medium-sized enterprises (SMEs) and participation of foreign investors in several fields
cultivating “specialized, refined, special, and related to metaverse technology, including:
innovative” companies (referring to companies
with strong business specialization, refined • R&D and manufacturing of VR, AR, and
management, specialized processes, and a high MR equipment
level of innovation).
• Development and manufacture of vision sensors
• Encouraging R&D investment and supporting (digital cameras, digital cameras, 3D sensors, lidars,
companies, universities, scientific research millimeter-wave radars, and so on) applied to
institutes, standards organizations, industry fifth-generation mobile terminals (mobile phones,
alliances, and more to formulate platforms for automobiles, drones, VR, augmented displays, and
multi-disciplinary innovation. so on)
• Carrying out pilot applications by encouraging • Vocational and skills training services based on VR
telecom operators, internet companies, and other or AR devices”, among others
companies to participate in the construction of
content development centers and application In addition, the Action Plan directly encourages
experience display centers. international cooperation on VR technology. As
this plan serves as an initial guiding policy for the
• Strengthening the talent pool by supporting development of China’s VR and metaverse industry,
higher learning institutions to establish and we expect to see more targeted policy documents
improve relevant disciplines, encouraging research for various aspects of the industry, which may
cooperation between industry and universities, include more guidance on the participation of
and cultivating multi-disciplinary talents. foreign companies.
• Expanding channels for international
exchange and cooperation in the field of VR and
5 AMCHAM SOUTH CHINA
market development.
3. Accelerating multi-industry and multi-scenario
applications. This will require deepening the organic Significance of the Action Plan and
integration of VR and industries with the potential the role of foreign investment
for large-scale or specialized implementation, such
as industrial production, cultural tourism, integrated The Action Plan is the clearest sign yet that the
media, education and training, sports and health, Chinese government is banking on VR technology and
business, performing arts and entertainment, safety the metaverse to become the next big thing in the
and emergency response, disability assistance, digital space. As with other emerging technologies
smart cities, and more. – such as autonomous driving – China wants to
ensure that it will not be playing catch-up with other
4. Strengthening the construction of the industrial countries to develop a home-grown industry.
public service platform. This includes building a
common application technology support platform, More generally, one of the core goals of the Chinese
an immersive content integrated development government for the coming decades is to achieve
platform, and an integrated application incubation technological self-sufficiency. This was a core tenant
and cultivation platform to increase support for of the 20th Congress Party report, which sets the
the development of the VR industry. overarching policy agenda for the period until 2027.
5. Building an integrated application standards For this reason, if in the near or longer-term, future
system. This involves strengthening top-level humans will indeed be spending significant amounts
standards and building a comprehensive VR of time in virtual worlds, the Chinese government
standards system for technologies that are safe will want to ensure that the domestic industry is not
and trustworthy, including near-eye display, reliant on foreign technology and has the capacity to
graphics rendering, perceptual interaction, run the metaverse independently of other countries.
network transmission, content production, and This will not only help support the economy through
compression coding. the development of a potentially lucrative and high-
growth industry but will also put Chinese regulators
Measures for achieving the goals in a better position to shape the development of the
industry and ensure it abides by Chinese laws
The Action Plan proposes a number of measures and regulations.
for achieving the development goals. Many of
these focus on how government departments This, however, does not mean that China’s VR
should work together and guide the industries’ industry and metaverse will be limited to domestic
development, pilot projects, and talent cultivation. players. China has long aligned foreign investment
Specific measures include: policies with its core development and industry goals.
The Catalogue of Encouraged Industries for Foreign
• Promoting the integrated development of Investment (2022 Version)actively encourages the
large and medium-sized enterprises (SMEs) and participation of foreign investors in several fields
cultivating “specialized, refined, special, and related to metaverse technology, including:
innovative” companies (referring to companies
with strong business specialization, refined • R&D and manufacturing of VR, AR, and
management, specialized processes, and a high MR equipment
level of innovation).
• Development and manufacture of vision sensors
• Encouraging R&D investment and supporting (digital cameras, digital cameras, 3D sensors, lidars,
companies, universities, scientific research millimeter-wave radars, and so on) applied to
institutes, standards organizations, industry fifth-generation mobile terminals (mobile phones,
alliances, and more to formulate platforms for automobiles, drones, VR, augmented displays, and
multi-disciplinary innovation. so on)
• Carrying out pilot applications by encouraging • Vocational and skills training services based on VR
telecom operators, internet companies, and other or AR devices”, among others
companies to participate in the construction of
content development centers and application In addition, the Action Plan directly encourages
experience display centers. international cooperation on VR technology. As
this plan serves as an initial guiding policy for the
• Strengthening the talent pool by supporting development of China’s VR and metaverse industry,
higher learning institutions to establish and we expect to see more targeted policy documents
improve relevant disciplines, encouraging research for various aspects of the industry, which may
cooperation between industry and universities, include more guidance on the participation of
and cultivating multi-disciplinary talents. foreign companies.
• Expanding channels for international
exchange and cooperation in the field of VR and
5 AMCHAM SOUTH CHINA
