- NetEase ( NASDAQ: NTES ) and Tencent ( OTCPK:TCEHY ) were among the video game companies that were granted approval for 87 domestic online game licenses in February.
- The list was put together by China's National Press and Publication Administration, according to Reuters .
- NetEase ( NTES ) and Tencent ( OTCPK:TCEHY ) were fractionally lower in premarket trading on Friday.
- The approvals continues a trend in which China has continued to loosen restrictions after cracking down on the domestic gaming industry. In September 2022, NetEase ( NTES ) received its first approval since July 2021.
- Investment firm Citi said it had become "constructive" on Chinese online gaming in January after 88 domestic video games were approved .
For further details see:
NetEase, Tencent, others receive Chinese approval for online game licenses