Tencent Wants To Accentuate Social Value Of Gaming In Appeal To Chinese Regulators

Tencent Holdings wants Chinese regulators to know that there’s more to gaming than what meets the eye. The company is attempting to play up the “social value” of gaming and how it makes contributions to areas outside of online entertainment, which includes culture, science, and traditional industries.

“The gaming industry is not one that develops in isolation,” said Steven Ma Xiaoyi, Senior Vice President at Tencent. “Along with the continuous progress of technology and the deepening of our understanding, games will play a more-important role in both economic development and social life, creating even greater technological breakthroughs and richer value.”

Tencent highlighted how games can become a part of various conservation and restoration projects, including the Library Cave of Dunhuang and Beijing’s Central Axis, and even building a digital Great Wall of China.

The company also spoke of its partnership with Shanghai Baosteel Group Corp to apply real-time cloud rendering, motion capture, virtual reality, augmented reality, and more to help in the steel company’s digital transformation and aid in increasing its manufacturing efficiency.

Despite these wonderful opportunities and side-projects, Tencent wants more than anything to get back to gaming, lobbying the Chinese government to grant the company its first game license in almost a year.

Tencent’s revenue fell 51% in the three months ended March 31st amid the freeze in new video game approvals. In May, the company slashed several jobs to counteract worsening financial results.

(All information was provided by The South China Morning Post)

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