Core Insights - The report indicates that the globalization of China's gaming industry has entered an initial stage of localization, with leading companies like Tencent establishing localized R&D and independent overseas brands [1][2] - By 2024, the overseas sales revenue of self-developed games from China is projected to account for 33.62% of total revenue, while the scale of foreign investment by Chinese gaming companies continues to expand [1][4] Group 1: Development Stages - The globalization of China's gaming industry is divided into three stages: the initial stage before 2012, the steady growth period from 2013 to 2017, and the optimization development phase from 2018 to present [2][4] - In the initial stage (before 2012), overseas sales revenue increased from $0.2 billion to $5.7 billion, with the overseas revenue share rising from 3.6% to 8.9% [2] - The steady growth period saw overseas revenue grow from $1.82 billion to $8.28 billion, with the share increasing from 19.1% to 28.6% [4] - From 2018 to 2024, overseas revenue is expected to rise from $9.59 billion to $18.56 billion, with the share increasing from 27.8% to 33.6% [4] Group 2: Investment Trends - The report highlights that the scale of foreign investment by gaming companies has been increasing, with Tencent alone conducting over 60 investment and acquisition events in overseas markets [4][6] - The top four investment destinations from 2018 to 2024 are Finland, Israel, Japan, and the United States, accounting for a combined 79.9% of total investments [1] Group 3: Global Industry Structure - The global gaming industry value chain is divided into upstream, midstream, and downstream segments, with a focus on midstream game development [5][6] - The leading countries in game development market share are the United States (37.7%), China (31%), and Japan (21.1%) [5] - The global gaming market size is projected to reach $47 billion in China and $46.1 billion in the United States by 2024 [5] Group 4: Future Directions - The future direction of China's gaming industry globalization involves leveraging capital for expansion, utilizing technology for competitive advantage, and building a collaborative innovation R&D system across various enterprises [6]