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July 30, 2020

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China’s game industry revenue up 20%

China’s video game industry revenue jumped 20 percent year on year in the first half, with booming exports, industry officials told a conference in Shanghai yesterday.

Shanghai, the host of ChinaJoy, Asia’s biggest game fair, which kicks off today, announced various measures to support Chinese game firms expand overseas.

In the first half, China’s game revenue reached 140 billion yuan (US$20 billion) with exports totaling US$7.59 billion, up 36 percent year on year, according to the China Audio-Video and Digital Publishing Association.

China’s game industry regained rapid growth during the COVID-19 pandemic, contributing big to the digital economy.

The export growth rate was a record high in recent years for many small and medium-sized game firms, Tang Jiajun, vice secretary general of the association, told the International Game Business Conference.

Games from Shanghai are among those gaining international recognition. The city government plans to launch more measures to support local firms expand in the overseas market, Wang Yayuan, deputy director of the CPC Shanghai committee, said.

Shanghai launched the “Qian Fan” or “Sailing Abroad Initiative” project yesterday to boost exports with 40 measures in policy support, copyright services, strategy research and trading channels.

The National Foreign Cultural Trade Base (Shanghai) North Hongqiao Innovation Center also made its debut during the conference. It provides game firms with various services covering exports, intellectual property rights, collaboration and content review. The new center also serves the Yangtze River Delta.

The conference is a prelude to ChinaJoy, which will run until next Monday. It has attracted more than 200 exhibitors, with over 4,000 game and smart devices onsite.




 

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