China yesterday approved 105 domestic games, the latest indication that Beijing is softening its stance after its move to tighten industry restrictions led to a US$80 billion rout last week.
The titles included those operated by Tencent Holdings Ltd (騰訊) and NetEase Inc (網易), China’s two leading game publishers, which were pummeled by Beijing’s new rules.
The approvals show that Chinese authorities support the development of online gaming, an industry association wrote in a post on WeChat that was republished by the state-run Xinhua news agency.
Photo: AP
Chinese officials rekindled fear that they would start another round of tech crackdowns after China’s top gaming regulator, the National Press and Publication Administration (NPPA), announced on Friday new rules to limit the development of online games, including an unspecified cap on spending by adult players.
Additional restrictions include a ban on rewards for frequent log-ins and forced player duels, and even a prohibition on content that risks national security.
As Tencent and NetEase saw their market value plunge by tens of billions of dollars in Hong Kong on Friday, the NPPA announced during trading hours the approval of 40 imported gaming titles, including those operated by the two companies. The move did little to help restore investors’ confidence.
The administration on Saturday said that it would listen to feedback from stakeholders including companies and players to improve the rules.
The sweeping restrictions, announced before Christmas, reminded many of the brutal tech-sector crackdown of 2021. That year, Chinese agencies abruptly imposed curbs on sectors from e-commerce to entertainment, while decimating the online education industry by declaring profits illegal.
“The latest events reflect the government’s desire for a larger, more diverse gaming landscape with innovative content of a higher quality, but one without excessive monetization or pay-to-win games,” Shanghai-based games studio Paper Games (疊紙) senior vice president Yang Wenfeng (楊文峰) said. “The government prefers publishers to earn profits through fair practices and product innovation, rather than deepening monetization strategies.”
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