Chinese video game market faces challenges and uncertainty in 2024
The year 2023 was a challenging one for the Chinese video game market, with regulatory actions and market turbulence impacting the industry. Regulatory measures aimed at curbing excessive consumer spending on in-game items wiped out billions of dollars in market value from Chinese gaming stocks. Lay-offs and closures were also observed in the industry. However, there is some hope for 2024 as industry insiders and executives believe that this consolidation and recalibration could lead to a more stable and sustainable market.
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