Research On The Internationalization Path Selection Of Chinese Game Enterprises

China’s online game industry is developing with the development of the Internet,and the scale of China’s game market is constantly expanding.By 2021,the global game market scale has reached 175.8billion dollars,and the total revenue of China’s game market has reached45.15 billion dollars,ranking the first in the world.There are 360,000game-related enterprises.Tencent topped the global gaming market and the Chinese gaming market with $32.2 billion in revenue.However,in recent years,the development of Chinese game industry shows a slow trend.The reason is that the demographic dividend,which supports the rapid growth of the game industry,gradually dries up and the game market tends to be saturated with fierce competition.Faced with the severe growth trend,most game enterprises will take the initiative to look at the international market,trying to use the continuous resource advantages of overseas markets to alleviate the current adverse competitive situation,to find new markets,resources,development.This paper focuses on Tencent’s typical cases of M&A investment,equity investment,new investment and authorized agency internationalization,and uses the grounded theory research method to explore Tencent’s internationalization path model and the specific factors that affect its selection.It is concluded that the steps of Tencent’s internationalization activities are preliminary conditions → external advantages → internal advantages → location selection → path → achievement of goals → risks;The common factors of the four internationalization paths,such as early factors,location choice and goal realization,constitute the fundamental factors for Tencent to choose internationalization.The difference of the selection factors among the four internationalization paths is the decisive factor for Tencent to choose the internationalization path.The determining factors for Tencent to choose M&A investment are sufficient capital,synergy effect,monopoly position,etc.As the simplified version of M&A investment,equity investment can be chosen if it does not meet the requirements of M&A investment path.Both new investment and authorized agent rely on their own high-quality game products and technologies to better export products and occupy the market.The difference is that authorized agent lacks international financial support and overseas operation experience,while new investment has sufficient financial support.Finally,some countermeasures and suggestions are put forward for the risks that Tencent incurs into overseas markets.