Alibaba Scores More Wins After China Doles Out Gaming Licenses

  • China's gaming regulator on Thursday granted publishing licenses to 86 domestic online games.
  • Gaming titles belonging to Alibaba Group Holding Limited BABABaidu, Inc BIDU, and TikTok parent ByteDance Ltd made it to the list, Reuters reports.
  • Also Read: Activision Blizzard Fails To Renew Gaming License With NetEase; Explores Other Alternatives To Tap Biggest Gaming Market
  • China's videogame regulator has started granting publishing licenses to new titles from April 2022, ending a months-long freeze in the world's largest mobile game market.
  • The country stopped issuing licenses in July 2021 after Beijing tightened rules on the industry.
  • In November 2022, Tencent Holding Ltd TCEHY bagged its first commercial game license in a year and a half since the country initiated a crackdown on the sector.
  • Price Action: BABA shares traded lower by 1.51% at $92.08 on the last check Thursday.
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