China’s video gaming industry achieved record sales of 325.8 billion yuan ($44.8 billion) in 2024, marking a 7.53% growth from the previous year, according to the China Audio-Video and Digital Publishing Association. Although slower than last year’s 14% growth, this represents the highest annual sales since tracking began in 2003, fueled by successful new game releases and steady policy support.
The country’s gaming population grew modestly, reaching 674 million players, up 0.94% from the previous year. Mobile games dominated the market, accounting for 73% of total sales with revenue of 238.2 billion yuan, up 5% year-on-year. PC games made up 20.9% of the market, contributing 68 billion yuan.
Overseas growth emerged as a key highlight, with sales of Chinese-developed games increasing by 13.4% to $18.6 billion. This marks the first rise in international sales in three years, driven by innovation and expansion efforts. The United States remained the largest foreign market for Chinese mobile games, accounting for 31.1% of revenue, followed by Japan (17.3%) and South Korea (8.9%). Notably, Saudi Arabia entered the top 10 foreign markets, reflecting its growing investment in gaming and esports.
The release of Black Myth: Wukong, celebrated as China’s first AAA video game, played a pivotal role in the industry’s growth. Developed by Tencent-backed Game Science, the game launched in August 2024 and recorded over 10 million sales within four days. By the end of its first month, it had sold more than 20 million units, becoming one of the most successful Chinese games to date. Its success helped boost the industry’s quarterly revenue to a record 91.8 billion yuan in Q3, a 9% increase year-on-year.
The Chinese gaming industry has steadily rebounded from an earlier regulatory crackdown, with policy improvements and favorable public sentiment contributing to its growth. The association attributed the industry’s expansion to the success of new mobile and single-player titles, as well as the continued rise in consumer spending post-pandemic.
Looking ahead, the industry’s domestic and international success positions it as a vital component of China’s entertainment sector, with significant potential for further growth in the coming years.
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