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

  • Tencent Holdings Ltd TCEHYNetEase Inc NTES, 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, marking the end of China's crackdown on the industry.
  • 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. 
  • Price Action: TCEHY shares traded lower by 0.03% at $47.78 on the last check Tuesday.
  • Photo Via Wikimedia Commons
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