China’s gaming population achieves a historic high of 668 million

• China’s video game player population reaches a record 668 million.
• Sales revenue of the domestic gaming market for the first half of the year amounts to $20.23 billion.
• The gaming industry shows signs of recovery after a government crackdown.

China’s video game player population has reached a new high of 668 million, marking a return to growth for the gaming market after a government crackdown. The number of gamers accounts for about half of the country’s population and reflects data accurate as of end-June. The domestic gaming market also saw sales revenue of $20.23 billion in the first half of this year, as reported by the CGIGC, a government-run game industry association.

Despite a sluggish global gaming market, China’s gaming industry is gradually recovering from the impact of the crackdown, according to Zhang Yijun, a director at the CGIGC. However, the industry faces challenges in the second half of the year and needs to boost confidence.

Last year, China’s gamer population decreased for the first time due to a government crackdown on gaming addiction concerns, affecting revenue and market value for major gaming companies like Tencent Holdings and NetEase.

While gaming revenue has not yet returned to pre-crackdown levels, regulators have resumed approving new games after an eight-month hiatus. They recently approved 88 games for the market in July. Analysts expect a steady approval process for domestic games in the second half of the year.

Despite the approvals, the actual rate of game launches remains slow, with only 23 out of the 88 approved games in January being launched or having a confirmed launch date, according to state-media Securities Daily.

To stay informed about current events, please like our Facebook page https://www.facebook.com/BOLUrduNews/.

Also Read

Gwadar airport best example of Pak-China cooperation: Senator Jamali

BEIJING: Gwadar airport’s construction in a short span of time is the...