The construction of a VR industrial park located in Qingdao's Lingshan Bay Film and Television Cultural Industry Area is expected to be completed within this year, local media reported.

The VR industrial park in Qingdao's Lingshan Bay Film and Television Cultural Industry Area [Photo/qingdaonews.com]

With a total construction area of about 117,000 square meters and a total investment of about 5 billion yuan ($783.5 million), the VR industrial park is a key project in Qingdao. It is designed to build a complete industrial chain in the VR industry, as well as contribute to the area's film and television industry.

Eleven leading companies in the field of virtual reality have signed agreements to set up operations in the park.