The regulator said in a statement that “the stability for the gaming sector has been shored up”, and the gaming market has rebounded significantly.
The National Press and Publication Administration (NPPA) has approved 105 new online games, saying it fully supports the industry after proposed curbs caused massive losses last week for investors in major games makers.
The NPPA issued a statement on its WeChat social media account Monday saying the approvals by the Game Working Committee of China Music and Digital Association were “positive signals that support the prosperity and healthy development of the online game industry.”
Tencent’s “Counter War: Future” and NetEase’s “Firefly Assault” were among games approved.
The Press and Publication Administration said that in 2023, 1,075 game version numbers had been issued, of which 977 were domestically produced and 98 were imported.
It also cited a “2023 China Game Industry Report” that it said showed sales revenue for the domestic online games market exceeded 300 billion yuan ($42 billion) in 2023, with the number of people playing the games reaching 668 million.
Draft guidelines for curbs on online gaming had caused share prices of video game makers like Tencent and Netease to plunge on Friday, causing losses of tens of billions of dollars and dragging Chinese benchmarks lower.
Source: Associated Press News
