In 2025, going global remains the key theme in the gaming industry.
According to the “China Game Industry Report (January–June 2025)” released by the China Audio-Video and Digital Publishing Association, revenue from domestically developed Chinese games in overseas markets reached $9.501 billion in the first half of 2025, up 11.07% year-over-year, demonstrating sustained overseas demand for Chinese-made games.
Findings from Tencent Games’ and NetEase Games’ Q3 financial reports reveal that major players are achieving significant success abroad. Tencent’s international market revenue surged by 43% year-over-year—the highest growth rate since the company began separately disclosing this segment’s performance. Meanwhile, NetEase’s deferred revenue from overseas markets rose 25.3% year-over-year to RMB 19.47 billion, with analysts noting that international markets are becoming the company’s second growth engine for its gaming business.
Based on H1 data and quarterly growth trends, China’s self-developed game exports are projected to surpass the $20 billion mark in 2025. While this record-breaking export revenue is cause for celebration, it also sparks curiosity and inquiry: Compared to previous years, has the genre composition of Chinese games going overseas shifted? Which overseas players are spending money on Chinese games? Is the revenue growth driven primarily by existing players increasing their spending frequency and amount, or by successfully reaching new audiences?
Through data analysis and interviews with real overseas players, we aim to uncover what’s truly changed in the past year of Chinese game exports.
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