The revenue of the Chinese gaming market for the year 2023 is expected to reach 303 billion yuan ($42.6 billion). This is 13% higher than the previous year, as reported by the CGIGC association.
This marks the first year in China's history where the revenue exceeded 300 billion yuan.
The number of gamers in China increased by 0.61% to reach 668 million people.
Local developers earned 256 billion yuan in China, which is 15% more than the previous year. And 84.4% of the entire gaming market is covered by local companies, which makes it challenging for projects from other countries to compete, not only due to licensing difficulties.
However, the revenue of Chinese companies abroad fell by 5.65% to $16.3 billion. One of the reasons is the increased regulatory measures in countries like India.