The Chinese government has granted approval for the publication of 45 new video games, the first since July 2021.
In China, companies require an approval from regulators in order to monetize games. China’s National Press and Publication Administration gave the approval to 45 games on 11th of April for the first time since last July. Games from NetEase and gaming giant Tencent were not on the list.
However, the approval might potentially indicate a slightly more favorable view from regulators toward the gaming industry after recent tightening of regulation in Chinese technology sector.
Authorities in the world’s second-largest economy have been concerned about gaming addiction among kids under 18 years old. Last year, China brought in rules that restricted kids’ online gaming time to three hours per week.
While under 18s are a small portion of revenue for the likes of Tencent and NetEase, the lack of gaming approvals has had an impact. Last month, Tencent reported its slowest quarterly revenue growth on record for the fourth quarter of 2021. Last week, the company announced plans to shutter its video game streaming platform. The move comes months after regulators blocked a merger between Huya and DouYu, two companies Tencent has a significant stake in, on antitrust grounds.
Source: CNBC
