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China Finally Approves More Games After An Almost One-Year Freeze
By Alleef Ashaari|April 11, 2022|0 Comment
It was originally reported that the Chinese government would be starting another round of approval process for games back in November 2021. After several months, that has finally happened. According to a report from Reuters, China’s gaming regulator approved the publishing licenses of 45 games in the country.
These 45 games include Baidu and XD Inc’s Party Star, as well as games from companies such as iDreamSky, 37Games, a subsidiary of G-bits Network Technology Xiamen, Shenzhen Zqgame and Yoozoo Games. This ends a nine-month long freeze that began in July 2021.
The approval process also resulted in the U.S.-listed shares of Chinese games companies like NetEase Inc and Bilibili Inc increasing a whopping 8% and 8.6%, respectively, in premarket trading. Why have their stocks increased in value so much? Game approvals have recently slowed down in China because they are beginning to enforce stricter rules, especially for children. These include moves to fight against gaming addiction and limit the amount of time its youth can spend on the games to only one hour per day.
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