The video game industry in China achieves $ 10 billion

China’s video game industry, the largest in the world, generated 68.5 billion yuan ($ 10.4 billion) in revenue in the third quarter.

These numbers represent an increase of 15.72% over the same period last year, but are down from the first quarter, as games rose amid the spread of the pandemic and related closures.

The number of players increased by 3.6 million, bringing the number of players nationwide to 661 million, according to the latest report from the government-backed Chinese Association of Audio, Visual and Digital Publishing.

China’s video game industry revenue hit a record high of 73.2 billion yuan in the first quarter.

China has more players than the combined population of the United States, Japan, Germany, France and the United Kingdom combined.

The epidemic has led to a further expansion of the fast-growing video game industry, and games have become a larger segment of the overall entertainment industry amid digital transformation.

Mobile games accounted for nearly three quarters of the total of the sector’s revenue, bringing in 50.8 billion yuan.

And with internet cafes operating across the country, PC games rebounded, with revenues rising 3.6 percent to 14.3 billion yuan.

Web browser games continued their decline, down to 1.8 billion yuan in the quarter from 2.4 billion yuan in the same period a year earlier.

Chinese-made toys are also reaping more revenue from overseas markets, as they generated $ 3.87 billion in the third quarter in all overseas markets.

China is requiring the games to have a license before they are launched in the country, and excessive involvement combined with sensitive political content could prevent them.

Warframe obtained its license in November, and is the only imported game approved in China in the past three months, despite the approval of 55 other imported games this year.

Tencent, which runs the world’s largest video game company and the largest social network in China, posted a better-than-expected 89 percent jump in net profit in the third quarter.

Online gaming revenue grew 45 percent in the three months to September 30th.

Tencent has cemented itself as a leading gaming company in China in recent years with huge successes, such as Honor of Kings and Peacekeeper Elite.

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