China approves 115 video games for January, the most in 18 months, in supportive sign after December market rout
- The 115 video game approvals tops the 105 approved in December as Beijing seeks to signal support for the industry after scrapping controversial new rules
- A draft regulation published in December that would have capped player spending wiped US$80 billion off Chinese gaming stocks, leading to an official’s removal
China approved 115 new video game titles in the first month of 2024, the largest batch of approvals in 18 months, in a supportive gesture to the industry.
Among this month’s approvals is a mobile game Tencent developed in collaboration with the American sport league National Basketball Association (NBA), which has a dedicated following in China, according to the list published on Friday by the National Press and Publication Administration (NPPA). Re Xue Mei Zhi Lan, which translates roughly as Hot-Blooded NBA, appears similar to NBA Infinite, which Tencent developed for overseas markets.
Chinese regulators retract gaming rule proposal after stock market turmoil
Other major local developers who had games approved this month include Lilith Games, Shenzhen Zhongqingbaowang Network Technology, and 37 Interactive Entertainment.
The accelerated pace for granting more video game licences in the last two months comes as Beijing looks to shore up confidence in the sector. Last month’s draft regulation, which included a cap on user spending in games and a ban on “excessive” rewards to lure in users, was followed by a plunge in stock values, wiping out as much as US$63 billion in value from Tencent and NetEase alone at one point.
Chinese listed gaming firms listed in Shanghai, Hong Kong or the US have collectively lost about US$80 billion in value since the draft was published.
The NPPA had initially justified the proposal as an effort to promote the “healthy development” of the gaming sector. The regulator said it would heed public opinion in revisions.
A total of 1,076 titles received licences in 2023 for release to the world’s largest video games market, double the 512 titles approved the previous year, when the industry was recovering from an eight-month licensing freeze. Beijing has since eased up on its crackdowns on technology firms as it looks to bolster economic growth amid a slow post-Covid recovery.
