HT TECH wants to start sending you push notifications. Click allow to subscribe

China's video games market recovers in 2023, domestic sales surpass $42.6 billion

China's video games market returned to growth this year as domestic revenue rose 13% to 303 billion yuan ($42.6 billion), putting Beijing's 8-month crackdown two years ago in the rear-view mirror.

By: REUTERS
Updated on: Dec 15 2023, 16:00 IST
People walk below a billboard ad of fantasy game "Genshin Impact" from Shanghai-based developer Mihoyo in Hong Kong, China October 20, 2020. (Reuters)

China's video games market returned to growth this year as domestic revenue rose 13% to 303 billion yuan ($42.6 billion), putting Beijing's 8-month crackdown two years ago in the rear-view mirror.

Industry association CGIGC said at a conference in Guangzhou on Friday the industry's domestic revenue this year reached over 300 billion yuan for the first time. It also said the number of gamers in China grew 0.61% to a record 668 million, which is more than North America's entire population.

You may be interested in

Mobiles Tablets Laptops
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
₹148,900₹159,900
Buy now
28% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
₹107,999₹149,999
Buy now
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
₹106,998
Check details
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage
₹87,900
Check details
21% OFF
Acer Swift Go SFG14 41 NX KG3SI 002 Laptop
  • Pure Silver
  • 8 GB RAM
  • 512 GB SSD
₹58,999₹74,999
Buy now
39% OFF
Acer Aspire 5 A515 57G Laptop
  • Gray
  • 16 GB RAM
  • 512 GB SSD
₹54,949₹89,999
Buy now
22% OFF
Acer Aspire 3 A315 24 NX KDESI 004 Laptop
  • Silver
  • 8 GB RAM
  • 512 GB SSD
₹33,499₹42,999
Buy now
40% OFF
Asus VivoBook 15 X515JA BQ322WS Laptop
  • Transparent Silver
  • 8 GB RAM
  • 512 GB SSD
₹31,350₹51,990
Buy now
34% OFF
Xiaomi Pad 6
  • Mist Blue
  • 6 GB RAM
  • 128 GB Storage
₹26,299₹39,999
Buy now
55% OFF
Lenovo Tab M10 5G
  • Abyss Blue
  • 6 GB RAM
  • 128 GB Storage
₹20,999₹47,000
Buy now
21% OFF
Realme Pad 2
  • Imagination Grey
  • 6 GB RAM
  • 128 GB Storage
₹19,749₹24,990
Buy now
Honor Pad X9
  • Gray
  • 4 GB RAM
  • 128 GB Storage
₹14,999
Check details

The return to growth is an important turnaround for the world's biggest gaming market after China's gaming revenue shrank for the first time last year following Beijing's 8-month crackdown on the industry over gaming addiction concerns.

Also read: Looking for a smartphone? To check mobile finder click here.

Games developed in China continued to grow as Beijing emphasized the need for self-sufficiency in technology. Annual revenue from homegrown games grew to 256 billion yuan, up 15% over the previous year. Also read: This mind-reading AI tool turns thoughts into text! Better than Elon Musk's Neuralink?

Revenue from Chinese games in foreign markets, however, took a hit after countries like India increased scrutiny of them on national security grounds. China's overseas games revenue fell 5.65% to $16.3 billion in 2023.

Anime-style games from China such as miHoYo's "Genshin Impact" gained popularity and expanded revenue, while anime-style games on smartphones posted a 31% growth to 31 billion yuan this year as compared with last year.

The recovery of China's gaming industry is reflected in Chinese gaming giant Tencent's return to growth this year after posting its first-ever revenue decline last year.

Tencent's rival NetEase also experienced a strong year as its shares rose more than 40% this year with help from gaming hits like "Egg Party".

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on ,Twitter, Facebook, , and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 15 Dec, 15:45 IST
Tags:

Sale

Mobiles Tablets Laptops
4% OFF
Samsung Galaxy S24 Ultra
  • Titanium Black
  • 12 GB RAM
  • 256 GB Storage
₹129,999₹134,999
Buy now
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
₹148,900₹159,900
Buy now
17% OFF
Xiaomi 14 Ultra
  • Black
  • 16 GB RAM
  • 512 GB Storage
₹99,999₹119,999
Buy now
9% OFF
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage
₹82,000₹89,900
Buy now
33% OFF
Xiaomi Pad 6
  • Mist Blue
  • 6 GB RAM
  • 128 GB Storage
₹26,999₹39,999
Buy now
53% OFF
Lenovo Tab M10 5G
  • Abyss Blue
  • 6 GB RAM
  • 128 GB Storage
₹21,999₹47,000
Buy now
36% OFF
Realme Pad 2
  • Imagination Grey
  • 6 GB RAM
  • 128 GB Storage
₹18,699₹28,999
Buy now
63% OFF
Lenovo Tab M9
  • Frost Blue
  • 3 GB RAM
  • 32 GB Storage
₹8,999₹24,000
Buy now
28% OFF
Infinix INBook X1 Neo XL22 Laptop Intel Celeron Quad Core 8 GB 256 GB SSD Windows 11
  • Blue
  • 4 GB RAM
  • 128 GB SSD
₹21,490₹29,990
Buy now
36% OFF
Asus VivoBook Pro 14 OLED M3400QA KM702WS Laptop
  • Solar Silver
  • 16 GB RAM
  • 512 GB SSD
₹50,990₹79,990
Buy now
28% OFF
HP ZBook Firefly 14 G9 7M3T2PA Laptop
  • Nouvelle Silver
  • 16 GB RAM
  • 1 TB SSD
₹96,700₹135,000
Buy now
25% OFF
Asus TUF Gaming A15 FA577XU LP041WS Laptop
  • Jaeger Gray
  • 16 GB RAM
  • 1 TB SSD
₹89,990₹119,990
Buy now
NEXT ARTICLE BEGINS