China is definitely investing massive amounts of money into the esports industry, perhaps more than any other country in the world right now. Chinese games and tech company NetEase has announced plans to invest a whopping RMB5 billion (or roughly US$725 million) in an esports stadium and park in Shanghai, China.
The news was announced at the 2019 China Digital Entertainment Congress (CDEC) (via TechNode) on Saturday, 3 August 2019. The esports stadium and park will be situated in Shanghai’s western Qingpu District. They will also host facilities for game development, team building, and talent training.
NetEase’s investment is significant in that it progresses the Shanghai government’s plans to make the world-class city to be an “esports capital”. With NetEase’s Shanghai Dragons esports team recently winning the Overwatch League championship, this will go a long way in developing the region’s esports potential.
Shanghai is not the only Chinese city to capitalize on the burgeoning esports industry, as Hainan also announced that it will be officially supporting esports development with US$145.6 million earlier in June.
With all of these local Chinese cities and regional governments vying for esports supremacy, it will ensure that China remains one of the world’s leading esports hubs. Games development is also growing in the country, as evident from the recent ChinaJoy games expo held in Shanghai, which featured the presence of gaming giants like PlayStation and Nintendo.