China's gaming industry rakes up USD 11.8 bn this year

China's gaming market sales revenue hit USD 11.8 billion in the first half of this year with experts predicting that it may overtake the US to become the world's largest gaming industry this year.
The country's gaming market expanded 30 per cent year on year, in the first half of 2016, with sales revenue hitting 78.8 billion yuan (USD 11.8 billion).
Mobile games saw the fastest growth with sales soaring 79 per cent to 37.5 billion yuan, the China Gaming Industry Report released at the China Digital Entertainment Expo and Conference in Shanghai said today.
China has 489 million game players, state-run Xinhua news agency said citing the report.

Sun Shoushan, deputy chief of the State Administration of Press, Publication, Radio, Film and Television, said that with new technology and good IP, the gaming sector would begin to integrate with other sectors, including literature, film and animation, ushering in a new growth period.
Market research agency Newzoo estimated that China would overtake the United States, becoming the world's largest gaming market this year, with a revenue of USD 24.4 billion.