And why not? China has one of the world’s biggest gaming market.

Consumer electronics giant HTC, who is now known not only for their line of Smartphones and tablets but also for their successful venture into Virtual Reality tech with the Vive project aims to dive deeper into the world of Virtual Reality, this time, inside the walls of China with their recent establishment of the Industry of Virtual Reality Alliance.

The HTC Vive is developed together with video game developer and publisher Valve.

Formed after their recent Virtual Reality Venture Capital Alliance initiative, the  IVRA will aim to help develop China’s VR industry, together with the help of the country’s very own Ministry of Industry and Information Technology and 170 other enterprises and companies with notable names being Alibaba and Huawei.

Apart from further developing China’s VR economy, other major possibilities of HTC’s recent venture might include the manufacture of more affordable VR hardware as China is also known to hold a more cheaper cost of labor when compared to western counterparts, although questions regarding product quality will always be up in the air when it comes to China manufactured products. Still this decision, together with the VRVCA, will soon help expand and develop the VR field, not only in China but also on a global scale, as the alliance alone promises a global funding worth USD 10 Billion to help achieve the industry’s goals.