Tencent And NetEase Score Wins As Chinese Regulator Doles Out Gaming Licenses; Alibaba Bags One This Time Too

  • China's video games regulator approved 87 new video games for February, including titles under Tencent Holding Ltd TCEHYAlibaba Group Holding Limited BABA, and NetEase, Inc NTES.
  • Leading gaming company Tencent won at least one game license for a mobile game named "Wangzhewanxiangqi," Reuters reports.
  • Alibaba bagged approval for a game named "Chunqiuxuanqi." 
  • Also Read: Tencent Prepared To Launch Bevy Of Games This December As Domestic Regulatory Crackdown Cools Down
  • NetEase won a license for its mobile game, "Journey to the West: Shikong."
  • XD Inc XDNCF bagged a license for a title named "Sausage Party."
  • In November 2022, Tencent bagged its first commercial game license in a year and a half since the country initiated a crackdown on the sector.
  • 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 higher by 1.33% at $48.88 on the last check Friday.
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