TECH - China Regulator Surprises Online Gaming Industry With Nod For 105 Online Titles After Investors Burn Hands | Benzinga
In a surprising move, China’s National Press and Publication Administration (NPPA) has approved 105 online games. This development comes amid substantial financial losses experienced by major game companies due to proposed regulatory curbs.
What Happened: The NPPA publicized its support for the online gaming industry through a statement on its WeChat account, as reported by AP News on Monday.
The approval of these games was characterized as a “positive signal” to foster the thriving and healthy development of the industry. Among the approved games were “Counter War: Future” from Tencent Holdings (OTC:TCEHY) and “Firefly Assault” from NetEase Inc (NASDAQ:NTES).
Proposed guidelines released last week aimed at curbing online gaming led to a sharp decline in share prices for top video game developers like Tencent and NetEase. The potential regulations included daily log-in incentives, restrictions on user recharge amounts, and purchase bans.
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These proposed measures led to considerable financial losses on ...