Boao hosts 2020 Global Esports Summit

The 2020 Global Esports Summit is held on in Boao, Hainan province on Aug 24. [Photo/Chinanews.com]

The 2020 Global Esports Summit was held on in Boao, Hainan province on Aug 24, bringing together esports industry elites to share their insights and suggestions on the industry's development and potential.

Tencent Esports, along with Penguin Intelligence, Nielsen, and the Global Esports Federation, released the 2020 Global Esports Industry Development Report, which indicated that Chinese esports users would exceed 400 million this year, making China the biggest esports market in the world.

In addition, China will contribute the largest share of the global revenue, surpassing North America for the first time and becoming the most commercially valuable esports market.

There are currently 50,000 esports practitioners in China, and the talent vacancy is as high as 500,000. According to the report, more attention should be paid to talent training and professional player selection.

At present, the domestic esports industry has gradually established a multi-level e-sports education system, including academic education, vocational education, and online education to promote esports talent training.

The master plan for the Hainan Free Trade Port (FTP), which was released on June 1, has brought new opportunities for the development of the esports industry in Hainan, with a series of preferential policies like zero tariffs, low tax rates, and simplified tax declaration to help companies reduce their operating costs. In addition, Hainan FTP can hold international esports events easily due to the convenience of personnel entry and exit.