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China approves third batch of video games in one month,but no Tencent

SHENZHEN
2019-01-22 17:06

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China approves the release of a third batch of video game titles after a 9-month freeze last year according to a list from the country's broadcasting watchdog-the State Administration of Press, Publication, Radio, Film and Television.
 
This is the third such list in just one month after the authority green lit 80 video game titles in late December.
 
Despite signs of a thaw in gaming approvals, industry giants Tencent and its domestic rival NetEase have no game titles on these lists.
 
China regulatory bodies for games stopped approving new titles from March 2018 amid a regulatory overhaul as video games triggered increasing criticism for leading addition and myopia among minor users.
 
The long freeze in game approvals has dampened the world’s largest gaming market. In the first half of 2018, the country’s game industry grew 5.4 percent from a year earlier, marking the slowest pace in 10 years.
 
Tencent was also trapped. The Hong Kong-listed company's shares took a major knock last year, in part because of concern over the gaming approvals freeze, wiping billions of dollars off its market value.
 
The company is still optimistic as it said in a statement last December that as the review and approval process for games resumes, Tencent will produce more compliant and higher-quality cultural work for society and the public.
 
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