(Yicai Global) Sept. 18 -- The value of China's electronic sports market is set to reach CNY70 billion (USD10.8 billion) this year, China Securities Journal reported, citing research by Jiama Data and internet giant Tencent Holdings Ltd. [HKG:0700].

The World Electronic Sports Games (WESG) 2017 China finals were recently held in Suzhou in the eastern province of Jiangsu.

The global esports market is growing rapidly and the number of users in China has reached 170 million. The total number of players in the country could increase to more than 220 million this year and hit 280 million next year, according to a report by Tencent. Some 8.8 percent of users have taken part in e-sports events, while 65 percent exhibit an interest in such events, the report shows.

China held over 94 large- and medium-sized esports events last year and is expected to host more than 100 this year. The quality of these events is also improving with the establishment of a system made up of influential international games and regional leagues, analysts said.

The country's esports market reached CNY36 billion (USD5.54 billion) in the first six months of the year, a report by Jiama Data and International Data Corp. shows. Jiama predicts the Chinese market will reach CNY70 billion by the end of this year.