Everybody wants a slice of the cake

The triumph of China’s Royal Never Give Up team at last month’s global showcase in Paris has spotlighted e-sports’ huge business potential and economic impact.

The Chinese team’s victory at the League of Legends Mid-Season Invitational attracted unprecedented attention at home, generating billions of interactions with tens of millions of online fans through live broadcasts and cross-platform media coverage.

As a milestone of China’s rampant e-sports industry, the victory was also hailed as a gateway for deeper inroads into the sporting mainstream.

On Wednesday, the China Cyber Games Summit attracted over 1,000 scholars, industry experts and representatives of local government and business to discuss the potential of the nation’s e-sports industry at the National Convention Center in Beijing.

During the summit, organizer Huati Gaming released the China E-sports Development Report, compiled by internet consulting company iResearch.

According to the report, the market value of China’s e-sports industry has reached 65.4 billion yuan ($10 billion), with 30.3 billion yuan generated by the PC gaming sector and 30.1 yuan by mobile gaming.

Another five billion yuan is generated by the “ecosystem of e-sports” from sectors like live broadcasting and crossover cooperation with other industries.

Also at the summit, China Overseas Holding Group, a real estate, energy and financial services giant, announced its cooperation with Huati Gaming.

“E-sports is a significant investment sector for us and a part of our strategic layout,” said Yi Gonglai, the company’s deputy CEO. “We will build an e-sports central business district in Qingdao, Shandong province, and stage Electronic Sports China Cup tournaments there.”

The League of Legends pro competition in China is in the process of selecting home cities for its clubs, and in the wake of RNG’s world championship and LOL’s involvement in the upcoming Asian Games as a demonstration sport, e-sports is seen as a viable vehicle for stimulating economic growth.

Last week, the local government of Xi’an, capital of Shaanxi province, held an elaborte ceremony at the Yong Ning Gate scenic area to welcome the arrival of Team WE, a competitive LOL club that reached the semifinal of 2017 LOL World Championship.

The city also provides the e-sports clubs and associated companies with many preferential policies aimed at heightening their profiles.