PRC is consuming more PRC content (i.e. HK/TW use to be sinosphere media power houses).
There's also consideration that documentation from science to technical papers are in Chinese now, less need for people to need English for variety of tasks.
It might be just regression to mean that after curious and open global oriented generation more likely comes one that's more isolationist and more easily satiated with domestic slop.
Or, if you wanted to enjoy fun video games in China in the 90s and 00s, your favourite stuff might have more likely been a pirated copy of Age of Empires II. The cream of the crop was coming from foreign powerhouses. Just this past year though, there’s a blockbuster Journey to the West action game made in China. I can imagine it’s a more accessible way of playing big-budget video games since the language and culture are more familiar.
In some ways, it reminds me of the console game crash of the 80s and Japanese software being very dominant in the United States until the late 90s and 2000s. The stuff from Japan was a little more foreign, but it was very good. Now though, western AAA games make up more of your average American’s playtime than they did in the past.
Maybe this is also a result of China being more developed and having a domestic market for its culture? Or, like, twenty years ago, I could imagine a lot of foreign media just had bigger budgets and writing, but today that’s less of the case.