China's pioneering video service provider iQiyi plans to initiate an intelligent technology project in Chongqing's Liangjiang New Area, local media reported on Oct 27.

The project will develop and produce intelligent devices supported by Virtual Reality (VR) technology, aiming to increase profits by promoting iQiyi's contents and services.

"iQiyi analyzed the future trends of the industry and decided to enter the field of hardware terminals," said Xiong Wen, CEO of Chongqing iQiyi Intelligent Technology Co Ltd.

The main products of the VR project will include VR headsets for PCs and game consoles, all-in-one machines with independent operating systems and VR mobile phone holders, according to Xiong.

iQiyi settled this project in Chongqing for its location and industrial advantages. When it was established in 2010 it was the first national-level development area in inland China.

"Liangjiang New Area has formed a competent industrial chain for IT production and manufacturing," said Xiong. "And it has many national-level resources such as the Liangjiang International Cloud Computing Center."

Meanwhile, the area has shown great support for iQiyi by providing favorable policies in human resources and investment. The VR project of iQiyi will in return boost the high-tech industry and facilitate upgrading of the local industrial structure.

Xiong Wen, CEO of Chongqing iQiyi Intelligent Technology Co Ltd, gives a keynote speech on VR at the Ultra Broadband Forum 2017 held in Hangzhou in October. [Photo provided to chinadaily.com.cn]