Participants compete in esports games during the 17th China Digital Entertainment Expo in Shanghai on Monday. Photo: IC

Following China's Edward Gaming (EDG) team securing its first League of Legends (LoL) World Championship title, the markets have responded by racing to invest and upgrade China's burgeoning online gaming industry.  

Richinfo Technology, a China-based Internet technology and service provider said on Thursday that it had signed a cooperation intention agreement with SuperGen, the parent company of Edward Gaming, a business covering e-sports, AR and VR.

Earlier on Sunday, EDG earned its first League of Legends (LoL) World Championship title, and instantly began trending on Chinese social media. 

Tech giants also claimed credit for their ongoing support for China's e-sports enterprises. 

Huya Inc, a leading game live-streaming platform said on Tuesday that it broadcasted 131 official e-sports events over the third quarter of 2021, attracting a total of 590 million viewers. The platform also broadcasted 58 in-house e-sports events and entertainment programs, securing 1.42 million viewers, an increase of 40 percent over the same period last year.

The company reported strong earnings for the third quarter of 2021, up by 5.7 percent to 2,975.5 million yuan ($461.8 million), from 2,814.8 million yuan for the same period in 2020. Dong Rongjie, Huya's CEO said the firm is aiming to launch new games, and further develop their products and services to provide more innovative features to meet user demand.

Tencent Cloud continues to provide exclusive full-link escort services for the S11 finals, while also providing technical support for all channels including the official live broadcast channel of League of Legends and Huya, carrying more than 90 percent of the entire network's traffic.

The e-sports industry has seen skyrocketing growth in recent years. Chinese corporate database Tianyancha showed that during this year alone, there have been 37 findings with a total financing amount of 8.38 billion yuan.

A report released by Shanghai-based consulting company iResearch revealed that in 2020, the overall e-sports market size has exceeded 145 billion yuan, with growth is mainly built on the rapid development of the mobile e-sports game market and the broader e-sports ecosystem. Reports suggest the scale of the domestic e-sports market will exceed 180 billion yuan by the end of the year.