On July 22, 2024, the CCP's 20th Central Committee released a series of decisions regarding cultural development, providing direction for cultural export, content production, and the development of new productivity. As an important part of the cultural industry, the gaming industry also sees new development opportunities under the guidance of this meeting. This article will delve into the impact of the 20th Central Committee's decision on the gaming industry and discuss how to promote the development of the gaming industry in the context of cultural confidence.
I. High-Quality Economic Growth Supporting Cultural Export
In 2023, China's GDP exceeded 126 trillion yuan, a year-on-year increase of 5.2%, with overall stable economic growth. The total value of goods trade imports and exports was 41.76 trillion yuan, an increase of 0.2%, ranking first in the world. As the world's second-largest economy, China's strong economic strength provides a solid foundation for cultural export. The stable growth of GDP and the expansion of foreign trade provide material and market support for cultural export. As an important part of the cultural industry, the gaming industry also benefits greatly from this.
II. Cultural Export, Content First
The 20th Central Committee proposed that it is necessary to enhance cultural confidence, develop an advanced socialist culture, promote revolutionary culture, inherit excellent traditional Chinese culture, and accelerate the adaptation to the new situation of rapid development of information technology, constructing a more effective international communication system. The key to cultural export lies in creating high-quality core content, continuously attracting consumers, and constantly expanding the global market. As a carrier of cultural export content, games are pioneers and trailblazers of cultural export.
According to the report, the gaming industry needs to focus on the localization and globalization of content, especially in segmented markets and specific categories. For example, the SLG (simulation strategy game) category has broad prospects in the international market. By deeply cultivating segmented markets and creating high-quality games with Chinese characteristics, it is possible to better adapt to international market demands and enhance the competitiveness of Chinese games in the global market.
In 2023, the overseas revenue of self-developed mobile games in China saw the United States, Japan, and South Korea ranked first, second, and third, respectively, accounting for 32.51%, 18.87%, and 8.18%. It is noteworthy that revenue in the Japanese and South Korean markets has increased, with newly launched products in the Japanese market performing particularly well. Meanwhile, the number of new games in the South Korean market has significantly increased. However, revenue in Western countries such as the United States, Germany, and the United Kingdom has declined, highlighting the clear differentiation between the Western and East Asian markets.
III. New Productivity Accelerates the Empowerment of the Content Industry
The 20th Central Committee emphasized the need to improve the system and mechanism for developing new productivity tailored to local conditions, promoting the deep integration of the real economy and the digital economy. New productivity led by the digital economy is leading the transformation of content creation, distribution, and consumption models through the integration and application of key technologies such as artificial intelligence. For the gaming industry, the application of technologies such as artificial intelligence, virtual reality, and augmented reality will greatly improve game production levels and user experiences, driving the industry forward.
IV. Policy Support, Boosting the Vigorous Development of the Gaming Industry
As an important part of a culturally strong country, cultural export is not only the export of cultural products but also a demonstration of national soft power and cultural confidence. With the continuous increase in relevant policies, the accumulation of high-quality content, and the improvement in production efficiency brought about by new productivity, China's gaming industry is expected to achieve more substantial and high-quality development. It is recommended to pay attention to outstanding companies in cultural export and new productivity empowerment, such as Shenzhou Taiyue, ChineseAll, Tencent Holdings, NetEase, and Enlight Media.
The 20th Central Committee's decision points out the direction for the development of the cultural industry and provides new opportunities for the future of the gaming industry. In the context of cultural confidence, the gaming industry should seize opportunities, actively explore new paths for cultural export, innovate in content and technology empowerment, and continuously enhance the influence and competitiveness of Chinese games in the international market.
