NANCHANG, Aug. 23 (Xinhua) -- The 2020 World Conference on the Virtual Reality (VR) Industry will be held in late October in Nanchang, capital of east China's Jiangxi Province, organizers said.

The two-day event will be held online and offline this year, with participants exploring issues related to XR (extended reality), cloud VR, industrial ecology and entertainment games.

Co-hosted by the Ministry of Industry and Information Technology (MIIT) and the provincial government of Jiangxi, the conference is held annually in Nanchang. During the 2019 conference, a total of 104 VR industry agreements and projects were inked.

China has witnessed a maturing and expanding VR industry as the country pushes for high-quality development and extensive application of new technologies. According to the MIIT, China's VR market will amount to 54.45 billion yuan (about 7.7 billion U.S. dollars) by 2021.