{"id":41362,"date":"2023-07-27T21:21:06","date_gmt":"2023-07-28T01:21:06","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/chinas-video-game-player-population-rises-to-a-record-at-end-june\/"},"modified":"2023-07-27T21:21:07","modified_gmt":"2023-07-28T01:21:07","slug":"chinas-video-game-player-population-rises-to-a-record-at-end-june","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=41362","title":{"rendered":"China’s video game player population rises to a record at end-June"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: A man plays online game on a computer at an internet cafe in Beijing, China August 31, 2021. REUTERS\/Florence Lo\/File Photo<\/span>
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By Josh Ye<\/p>\n

HONG KONG (Reuters) – China’s video game player population has grown to a record of 668 million, a government-run game industry association said on Thursday, as the world’s biggest gaming market returns to growth after a bruising crackdown.<\/p>\n

The number of gamers, which is accurate as of end-June, represents about half of the population.<\/p>\n

Industry association CGIGC, which announced the data at an industry conference in Shanghai, also said sales revenue of the domestic gaming market reached 144.263 billion yuan ($20.23 billion) for the first half of this year.<\/p>\n

“Against the backdrop of a sluggish global gaming market, China’s gaming industry is gradually emerging from a trough and showing an upward trend,” Zhang Yijun, a director at the CGIGC, told the conference.<\/p>\n

“Facing the challenges of the second half of the year, we still need to boost industry confidence.” <\/p>\n

China’s gamer population shrank for the first time last year amid a sweeping, months-long government crackdown on the industry over gaming addiction concerns. <\/p>\n

The crackdown wiped out significant revenue and market value for many domestic gaming giants including Tencent Holdings (OTC:) and NetEase (NASDAQ:).<\/p>\n

However, gaming revenue has yet to return to a pre-crackdown level. Sales revenue fell from 150.493 billion yuan in the first half of 2021 to 144.263 billion this first half. <\/p>\n

Authorities stopped approving new games for nearly eight months between 2021 and 2022 as part of the crackdown, but have since loosened regulations. <\/p>\n

Regulators approved the latest batch of game licenses on Wednesday, allowing 88 games to hit the market for the month of July.<\/p>\n

Alicia Yap, an analyst at Citi Bank, wrote in a note on Wednesday that up to 90 games were approved each month, totaling 1,000-1,100 domestic games in the whole of 2023, or almost double 2022 figures.<\/p>\n

“We remain confident about a steady domestic game approval process heading into (the second half of this year),” Yap wrote.<\/p>\n

However, state-media Securities Daily said in a separate report on Wednesday that the actual rate of game launches remains sluggish, with only 23 out of the 88 games approved as of January being launched or posting a confirmed launch date. <\/p>\n

(This story has been refiled to add a dropped word in paragraph 1) <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: A man plays online game on a computer at an internet cafe in Beijing, China August 31, 2021. REUTERS\/Florence Lo\/File Photo By Josh Ye HONG KONG (Reuters) – China’s video game player population has grown to a record of 668 million, a government-run game industry association said on Thursday, as the […]<\/p>\n","protected":false},"author":1,"featured_media":4722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-41362","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nChina's video game player population rises to a record at end-June | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. FILE PHOTO: A man plays online game on a computer at an internet cafe in Beijing, China August 31, 2021. 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