China’s esports industry returns to growth in 2024 as Tencent, NetEase expand overseas

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China’s esports industry returns to growth in 2024 as Tencent, NetEase expand overseas - SCMP

Quick Summary:

The growth is testament to how China’s esports industry has become a booming business, with local clubs making an impact on the global arena.

A screen shows South Korea’s T1 compete against China’s Bilibili Gaming during the League of Legends World Championship final in London, November 2, 2024.“The past [year] was a milestone for the esports industry,” Sun Shoushan, chairman of the semi-official gaming industry association, said at its annual conference in Beijing on Wednesday.“The trends of globalisation and mainstreaming of esports have become more obvious, meaning it is further related to cultural identity, national honour, and cross-border exchanges and cooperation.

Globally, esports is rapidly expanding its influence with events such as the Esports World Cup held in Saudi Arabia from July to August this year, and the Olympics Esports Games due to launch in 2025.