On September 13th, China’s National Press and Publication Administration approved a new batch of online games in the country. And, for the first time in over a year, the list of 73 approved games includes titles developed by both NetEase and Tencent.
NetEase, which is China’s second-largest gaming company, received a video game license for All-star Street Ball Party. Meanwhile, the country also gave a license to Health Defense a game being produced by Nanjing Wangdian Technology, a wholly-owned subsidiary of Tencent. Unfortunately, regulators did not approve any commercial games for Tencent.
While one would expect this to have a positive effect on both companies, that did not end up being the case. On September 14th, shares for Tencent and NetEase closed down 1.7% and 2.1% respectively.
Despite this recent wave of approvals, the Chinese government is still taking a strong stance toward gaming. Since the start of 2021, the government has implemented many types of regulations to limit the time citizens spend playing video games.
(All information was provided by ABC News, Pandaily, Reuters, and Yicai Global)
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