Over the years, we have seen the Chinese government curb online gaming, which includes limiting the time children could spend playing games and constant dissemination of information that highlights the addictive nature of gaming. Most recently, Chinese regulators announced fresh restrictions intended to implement spending limits across game platforms and even restrict minors from tipping game streamers. These were implemented by the National Press And Publication Administration.
Shortly after the announcement, various companies, including gaming giants Tencent and NetEase, had to bear the brunt of the announcement, as they collectively lost tens of billions of dollars in market value. But, as reported by the Associated Press (AP), the Chinese regulatory body made a 180-degree turn. In light of the massive losses incurred by game makers due to its recent restrictions, the regulatory body announced that it is approving 105 new online games and stated that it fully supports the industry.
The authorities also issued a statement that says these approvals by the Game Working Committee of China Music and Digital Association were “positive signals that support the prosperity and healthy development of the online game industry.”
Among those approved are Tencent’s ‘Counter War: Future’ and Netease’s ‘Firefly Assault.’
That said, China’s domestic games market is quite big, and The Press And Public Administration did cite the 2023 China Game Industry Report that showcases the sheer value the online games market exceeded at 300 billion yuan, about $42 billion, with almost 668 million gamers playing the games.
“The Game Working Committee hopes that member units will take this opportunity to launch more high-quality products, promote the high-quality development of the online game industry, and contribute to promoting cultural prosperity and development and building a culturally powerful country,” the National Press and Publication Administration added.
These are certainly positive steps for the Chinese gaming industry for now, which has been marred with restrictions for a long while now.
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