Tencent ( OTCPK:TCEHY ) and several other companies have received publishing licenses from a Chinese regulatory agency to release foreign video games in the country.
The National Press and Publication Administration granted licenses for 45 foreign games for the month of December, including Pokemon Unite , published by Tencent and developed in conjunction with Nintendo ( OTCPK:NTDOY ), along with Riot Games' Valorant .
Tencent ( OTCPK:TCEHY ) shares were fractionally higher in premarket trading on Wednesday.
In addition, 84 domestic games were also approved for December, including titles from ByteDance ( BDNCE ), the maker of TikTok.
China has eased up on its crack down of the video games industry in recent months. The move has severely impacted both Tencent ( OTCPK:TCEHY ) and NetEase ( NTES ), which generate a significant portion of their revenue from video games.
In September, NetEase ( NTES ) shares jumped after the Chinese government approved a mobile game from the company in September, its first such approval since July 2021.
Tencent ( OTCPK:TCEHY ) received six licenses in December via a number of affiliated companies, Reuters reported , citing a source with knowledge of the matter.
Founded by Pony Ma, Tencent ( OTCPK:TCEHY ) received its first license in November after going roughly 18 months without one.
Epic Games, which Tencent ( OTCPK:TCEHY ) owns a roughly 40% stake in, recently agreed to pay a $520M fine to the U.S. Federal Trade Commission for violating online privacy protections for children and tricking them into making unnecessary in-game purchases .
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Tencent among companies receiving new publishing licenses for video games in China