This is China Joy.

Mhm China's gaming giants from 10cent and netease are all here as well as international players to but it's not just your typical gaming companies here.

You've got the likes of the e commerce giant JD dot com, that's what a smartphone maker.

Xiaomi all trying to get a slice of the gaming pie.

Yeah, China was the world's largest gaming market in 2020, generating $44 billion that year, the coronavirus outbreak and subsequent lockdowns around the world meant people who were staying home turned to gaming for entertainment.

That led to nearly $180 billion 2020.

The growth is expected to slow after the record year before picking up again with issues such as video game production delays and the global semiconductor shortage affecting console production naturally you're going to see the growth slowed down.

A lot of the classroom was good.

But in the long term I still think that growth rate should be very, very high.

Gaming has gone from narrowly defined, gaining more broadly a way of life.

The lifestyle is part of the culture because if you look at the future, what we believe is that the future is a mixed reality.

People are not just residing in this parole, they're also creating this virtual identity.

They also live in the virtual street.

So what's gonna happen is mixed reality that people living very fluidly move from the physical world into the virtual cities and gaining as an important part.

Hope that mixed reality Gaming consoles like Sony's PlayStation and Microsoft's xbox were banned in China for 14 years up until 2014 that allow PC and mobile games to cement their dominance In 2020 mobile games raped in revenue of $29.2 billion China.

That was the biggest category.

Way ahead of PC Games, revenue and sales from console hardware and software.

Chinese game developers have typically been strong in PC.

And mobile games, but a new breed of studio is hoping to crack the lucrative console market.

One of those is frank ningbo lee the ceo of studio surgical scalpels.

The developer is making a game called boundary for Sony's Playstation four PS five and PC.

It's the first person shooter set in space since 2014 and 2015.

The government to raise the bar of the council game market, there are a lot of the game developer wanted to do more Council game for the global game revenue, 30% from council game.

But in china in 2014 0% even today is only one or 2%.

I think that's a huge opportunity.

Another big focus here at china Joy is e sports or competitive video gaming.

Like other sports money is made through prize money, salaries, advertising and sponsorships Globally.

Sports revenue is estimated to grow to over $1 billion 2021 up, 14.5% year on year, China is expected to be the biggest market Shanghai where China joy is taking place, is trying to position itself as a new sports sub.

In 2020, it held the league of legends, World Championship and the city has broken ground on an in $900 million dollar in sports arena.

So what next for the sports in china?

We haven't really saying that your potential yet.

I feel like that industry in the early stage shows that are going from creating the offline planning those online.

You think about what traditional sports are right now, It's part of their lives, their family, and that's what we think.

So.

There are a lot of exciting things.

You have to have a high thanks for watching.

What are your favorite games to play And are you into e sports?

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