The first-ever Esports World Cup (EWC) is underway in the Saudi Arabian capital Riyadh, drawing the world's top gamers to compete across 22 tournaments for a staggering 60 million U.S. dollars prize pool, which organizers have called "life-changing."
Amidst scorching August temperatures, with mercury soaring to 45 degrees Celsius, electrical fans are omnipresent in Saudi Arabia to combat the sweltering heatwave.
Stepping into the dazzling esports arena along the boulevard, the air conditioning provides respite from the searing heat outside, but inside, the competition among hundreds of gamers across the three venues hosting the games is nothing short of intense.
The players are battling it out for a massive 60 million U.S. dollars, an unprecedented sum in the esports realm, earning the title of the "Hall of Fame" in this prestigious event.
The coveted Esports World Cup awaits the triumphant team at the conclusion of the competition, with Team Falcon of Saudi Arabia currently leading the pack, closely followed by the Gladiators and other contenders. Over the next two months, teams will amass points, and the ultimate victor with the highest score will claim the World Cup.
Featuring 22 tournaments spanning the two-month-long competition, popular games such as Fortnite, EA Sports, and Street Fighter are captivating millions of fans worldwide.
"I came here with my son to watch Fortnite, and we enjoyed it a lot. It's really great," said Abdul Mohse, an esports enthusiast from Saudi Arabia.
Massive investments and resources have been injected into esports, yielding impressive results. After the initial month of the tournament, staggering figures have been unveiled.
In the first 4 weeks of the Cup, a record 177.5 million viewing hours have been clocked. On site, visitors have already reached one million. The games are being followed by 3.4 billion gamers worldwide. And the final weeks promise to be even more intense.
Within the first four weeks of the competition, a groundbreaking 177.5 million viewing hours have been amassed. On-site attendance has already surpassed one million visitors. The games have garnered a global following of 3.4 billion gamers. The forthcoming weeks are poised to escalate the excitement even further.
Global gaming stars compete for 60 mln USD prize pool at inaugural Esports World Cup
Since the beginning of this year, China's financial sector has further improved financing services for small and micro enterprises, particularly by addressing financing blockages for micro, small, and medium enterprises (MSMEs), amidst the country's strengthened support for businesses in recent years.
The China Banking and Insurance Regulatory Commission recently issued a document addressing the blockages in the financing process of MSMEs.
According to the document, the range of entities eligible for liability exemption upon fulfilling due diligence has been broadened to cover loans in key areas such as small and micro enterprises, self-employed individuals, owners of small and micro enterprises, and farmers. This move aims to effectively reduce the burden on grassroots credit personnel and address their concerns regarding lending.
Meanwhile, the scope of renewal has been broadened from certain small and micro enterprises to include all small and micro enterprises.
It is specified that small and micro enterprises with working capital loans and owners of small and micro enterprises, self-employed individuals, and farmers who continue to require financing after the loan terms can seek renewal support from banks.
To enhance support for small and micro enterprises, coordination among different national departments, as well as between national ministries and local governments, is growing increasingly tight.
The China Banking and Insurance Regulatory Commission and the National Development and Reform Commission have established a coordination mechanism to bolster financing for small and micro enterprises.
For instance, special teams have been set up at the county and district levels throughout China to comprehensively assess the financing needs of small and micro enterprises.
For small and micro enterprises with genuine financing needs and good credit standing, banks are required to complete credit approvals within one month in principle, guaranteeing direct access to credit funds for these enterprises.
As of the end of August this year, the balance of inclusive loans to small and micro enterprises nationwide reached 31.9 trillion yuan (around 4.5 trillion U.S. dollars), doubling that at the end of 2017, with the average interest rate decreasing by a cumulative 3.5 percentage points.
By the end of September, the six major commercial banks - Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC), Bank of China (BOC), China Construction Bank (CCB), Bank of Communications (BCM), and Postal Savings Bank of China (PSBC) - have collectively extended over 2.2 trillion yuan (around 310.9 billion U.S. dollars) in newly added inclusive loans to small and micro enterprises this year.
China's financial sector further removes MSMEs' financing blockages in 2024
