share_log

China Concept Stocks

Topic 39 news 4775 Subscribers

Tencent, NetEase Score More Wins As China Awards More Gaming Licenses

Benzinga Real-time News ·  Jan 17, 2023 16:41

  • $Tencent (TCEHY.US)$, $NetEase (NTES.US)$, and miHoYo scored a win as China granted publishing licenses to 88 online games.

  • The largest gaming company Tencent won at least one game license for a mobile game named "Yuanmengzhixing," Reuters reports.

  • China's second-largest gaming company NetEase bagged a license for a shooting game named "Chaofanxianfeng."

  • miHoYo, the famed developer behind Genshin Impact, won one license for a game named Honkai: Star Rail.

  • Beijing initiated a nine-month freeze on the license approval process as a part of a sweeping crackdown on the sector.

  • In December last year, China granted publishing licenses to 44 foreign games for domestic release after nearly 18 months as an end of the crackdown on the sector.

  • In November 2022, Tencent bagged its first commercial game license in a year and a half for an action game titled "Metal Slug: Awakening."

  • NetEase won a license in November for a role-playing game titled "Journey to the West: Return," its second license since the freeze was lifted.

  • Unlike in most other countries, video games need approvals from regulators before a release in China, which is also the largest gaming market.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment