Valve's glorious leader GabeN has decided to expand the gamer's republic of Steam to the People's Republic of China, in cooperation with the company that was responsible for localised versions of Dota 2 and Counter Strike: Global Offensive.
The Chinese company in question is Perfect World Entertainment and they'll finally help bring the actual platform whose owner spawned the aforementioned franchises. Well, one of them at least.
Not that Steam is not available in China at all, since it can be accessed via various channels. However, many of its services are straight up blocked by Chinese government, which is where Perfect World comes in.
If Valve and Steam work with a local company, chances are they'll have better insight into China's legislatives. This may allow the company, and in turn the platform, to be readily available and promptly informed of any requirements or regulations it would have to comply with.
Seeing as how Steam has already had business dealings with Apple, it shouldn't take too long to get used to Chinese censorship and strict regulations. In contrast to their recent decision on keeping Steam as open as possible for the rest of the world, GabeN and Co will have to make concessions there.
Needless to say, it is sure to be worth it, which in translation means GabeN and Valve are sure to stuff their pockets. We could speak at length how the Chinese gaming market is growing at quite an impressive rate but the real truth is that the country's population presents unprecedented economic opportunities in pretty much every sector, gaming included.
People are already likening the deal to that made by Blizzard and their Chinese Battle.net operators NetEase, who've helped spread World of Warcraft, Overwatch and Starcraft 2 there. The partnership prospers to this day, so it's safe to assume Blizzard are happy. And we all know when Blizzard are happy.
Whatever Blizzard does though, Steam can do better and you can bet many Valve pockets will get heavier soon. So no more Half Life ever I guess.