China is easing its stance on gambling and new restrictions will benefit the industry
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After announcing industry-shattering new rules for Chinese gambling late last week, the local regulator has taken another step toward easing its stance on video games.
According to the publication Bloomberg On Monday, December 25, China’s National Press and Publication Administration approved 105 video games from local developers for release in the country.
The list of approved projects includes products from Tencent and NetEase, two leading Chinese gaming companies that were hit hardest by Beijing’s announcement of new rules for online gaming.
The official Chinese news agency Xinhua described the new wave of approved games in a publication on WeChat messenger as a sign of local authorities’ support for the development of the online gaming segment.
Strict online gambling rules announced by Chinese authorities last week, including limits on player incentives and spending, have reignited fears of a possible new round of crackdowns in the tech sector.
“The latest developments reflect the government’s desire to create a broader and more diverse gaming environment with innovative, high-quality content without excessive monetization or “pay-to-win” projects.”” commented the Shanghai studio Paper Games.
The day after the announcement, Chinese authorities said they would listen to investors, companies and players to improve the rules. The collection of opinions lasts until January 22, 2024.
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