China's Video Game Market Grows 14% in 2023 Despite Slowing Overseas Expansion

Major gaming companies Tencent and NetEase see revenue recovery, while US remains top destination for overseas expansion.

China's video game market saw a 14% increase in sales this year, reaching 303 billion yuan (US$42.7 billion), the highest yearly sales since 2003.
Despite the overall growth, overseas revenue fell, with sales of China-developed titles down 5.7% year on year to US$163.7 billion.
The total number of gamers in China increased slightly by 0.6% to 668 million in 2023.
Major gaming companies like Tencent and NetEase saw their revenue recover this year, with Tencent reporting an 11% jump in sales for the first three quarters.
Despite the drop in overseas revenue, the US remains the top destination for overseas expansion of Chinese mobile gaming companies, accounting for 32.5% of their overseas revenue.