China's self-developed games are gaining momentum in the overseas market which has reached 11.59 billion USD in 2019 alone. The increase was said to be 21 percent higher than last year's yield and that the actual sales revenue of the industry has contributed greatly to China's recovering economy.
A report claimed that the self-developed Chinese games have been popular in the United States, North Korea, and Japan. It was also labeled as widely popular in Southeast Asia and Europe. According to a 2019 China Gaming Industry, The report released by Digital Publishing Association, role-playing, strategy, and multiplayer games has gained momentum in the global economy.
The report claimed that China's self-developed games have generated 189.5 billion yuan or 27 billion USD in the domestic market alone. The rate was referred to as a 15.3 percent increase from last year's yield. Moreover, China's self-developed games have contributed to an increase in actual sales revenue for the country. The report claimed that it has garnered a 7.7 percent increase to the country's revenue which amounted to 231 billion yuan or 33 billion USD for 2019 alone.
In other news, it was revealed that Tencent was among the developers of Chinese self-developed games who have garnered promising sales in 2019. Referred to as China's technology and internet giant, Tencent has increased its equity stake in Vipshop. The latter was reported to be an e-commerce website with a domain VIP.com.
The boom of Tencent products from the e-commerce website was due to the company's marketing campaign in which it has been offering online discount sales to the market. An official announcement claimed that Tencent has acquired a total of 6.47 million in American depositary shares of the company. It revealed that it had an open market value of 84.19 billion USD.
It was also revealed that Tencent's shares had been increasing through a chain of transactions that were executed from November until December 13 of this year. The said generation was a wholly-owned a subsidiary of Tencent.
Moreover, the report added that after the acquisition of shares of Tencent, it now holds a 9.7 percent stake in Vipshop which is an 8.7 increase from its value from last year. It was also revealed that Tencent continues to hold the record as the second-largest shareholder in the e-commerce firm.
The report claimed that Tencent first acquired a stake in Vipshop during the year 2017. The said acquisition was by virtue of a joint investment with JD.com which amounted to 863 million USD.
