GUIYANG, China, Feb. 27, 2017 /PRNewswire/ -- Guian New Area, China's state approved national-level new area in Guizhou, mid-Western China, is helping businesses across sectors to realize opportunities in virtual reality by establishing Beidouwan VR Town, an initiative backed by preferential policies to support development in the fast-growing VR industry.

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Beidou Bay VR Village, located in the Gaofeng County of Guian New Area, is a new type of village that integrates five functions -- industry planning & exhibition, scientific education & promotion, field trip & experiences, innovation & entrepreneurship, and a platform for trading and showcase.  

By 2019, the village is expected to house 50 companies with total annual capacity of producing 1.5 million pieces of VR-related hardware equipment. In addition, these companies are expected to have completed 500,000 transactions of software content, and 100,000 sets of solutions to industries including healthcare, construction, planning and education. The village is expected to have annual revenue of 1 billion yuan (USD $145,490 million), and contribute to 80 million yuan (USD $11.6 million) in fiscal taxes, as well as 3,500 new jobs. 

Guian New Area's Beidouwan VR Town aims to support industrial development by building the entire infrastructure required for research, development, manufacturing and servicing support for VR related industries. The initiative includes incubator support, demonstration centers, trading services, training and even tourism support. The area recently celebrated the completion of its four major centers -- Weiai Education Pavilion, an industrial planning center, a VR application center, a tourism VR center featuring farming experience -- all serving different functions to showcase VR applications and innovations. More developments are now underway with the first phase of Beidouwan VR Town due to complete in May, 2017. 

In October, 2016, Guian New Area hosted the 2016 Guian Virtual Reality Summit under the slogan 'Collaboration in Virtual and Reality'. The summit attracted top internet players and developers including representatives from HTC, Facebook, Peking University and Beijing's Beihang University to share industrial insights in applying VR technology in education, tourism, gaming and discuss developments of augmented reality. During the summit, the Guian government showed full backing and support by releasing ten policies to support the development of VR related business in the Guian New Area.

Under the initiative, the administration will offer rewards and grants to support content development, investment ventures, and industrial incubators that set up in the new area. A reward of RMB1 million (USD $145,390) is available to Chinese organizations and research institutes that generate intellectual property with a value of RMB2 million (USD $290,782) or above. A one-off grant of up to RMB5 million (USD $726,955) will be available to VR incubator support providers.

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Guian New Area is the eighth national-level new area in China, shoulders three major responsibilities - key driver of economic growth in western China, breaking new ground in economic opening, and the benchmark of sound and vibrant eco-system zone. 

SOURCE Guian New Area