China’s video game player population rises to a record at end-June

China’s video game player population rises to a record at end-June

China’s video game player base has reached a new high of 668 million, according to a government-run game industry association. This growth comes as the world’s largest gaming market begins to recover after a harsh crackdown. The number of gamers, accurate as of the end of June, accounts for approximately half of the population.

At an industry conference in Shanghai, the CGIGC announced that sales revenue in the domestic gaming market for the first half of this year reached 144.263 billion yuan ($20.23 billion). Zhang Yijun, a director at the CGIGC, stated that China’s gaming industry is gradually emerging from a slump and showing signs of improvement, despite the challenges that lie ahead. Boosting industry confidence is still necessary.

Last year, China’s gamer population experienced a decline for the first time due to a government crackdown on the industry over concerns of gaming addiction. This crackdown resulted in significant revenue and market value losses for major domestic gaming companies such as Tencent Holdings (0700.HK) and NetEase (9999.HK).

Although gaming revenue has not yet returned to pre-crackdown levels, authorities have relaxed regulations after an eight-month halt on approving new games between 2021 and 2022. On Wednesday, regulators approved a new batch of game licenses, allowing 88 games to enter the market in July. Analyst Alicia Yap predicts that the approval process will continue steadily in the second half of this year, with up to 90 games approved each month, totaling 1,000-1,100 domestic games in 2023, nearly double the figures from 2022.

However, a report from state-media Securities Daily suggests that the rate of game launches remains slow. Out of the 88 games approved in January, only 23 have been launched or have confirmed launch dates.

In conclusion, China’s gaming industry is rebounding as the number of gamers reaches a record high. Despite the challenges faced, there is optimism for the future with the relaxation of regulations and the approval of new games. However, the actual rate of game launches remains sluggish, indicating that there is still progress to be made in fully recovering from the crackdown.

About News Team

Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

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