In a recent turn of events, China’s regulatory body overseeing press and publications has given the green light to 105 new online games, signaling robust support for the gaming sector. This move comes in the wake of regulatory proposals that rocked the industry and led to significant financial losses for shareholders in leading gaming companies last week.
The National Press and Publication Administration, through a WeChat announcement on Monday, communicated that the approvals facilitated by the Game Working Committee of the China Music and Digital Association are indicative of a commitment to fostering a thriving and healthful online gaming landscape.
Among the newly sanctioned titles are Tencent’s “Counter War: Future” and NetEase’s “Firefly Assault.”
The gaming community was rattled last Friday when draft regulations aimed at imposing restrictions on online gaming activities were unveiled. These proposed guidelines, which included a ban on rewards for daily log-ins and purchases as well as limitations on user account recharges, sent stocks of major game developers like Tencent and NetEase into a nosedive. The draft also mentioned the implementation of alerts for patterns of “irrational consumption behavior.”
Despite the market disruption, the administration’s declaration stated that in 2023, a total of 1,075 game version numbers had been assigned, with 977 of those being domestically produced and 98 imported.
The administration also referenced the “2023 China Game Industry Report,” highlighting that the domestic online games market’s sales revenue surpassed 300 billion yuan (around $42 billion) this year, with the gaming population reaching 668 million users.
The Game Working Committee has encouraged its members to seize this opportunity to introduce more top-tier products, thereby propelling the online gaming industry towards higher-quality development. The committee’s goal aligns with broader cultural ambitions, aiming to enhance cultural prosperity and solidify China’s status as a culturally influential nation.
China’s approach towards online gaming has seen various regulatory measures in recent years. Back in 2021, the country imposed a stringent limit on the amount of time minors could engage in gaming, capping it at a mere three hours per week. This was part of a broader concern regarding gaming addiction. Following a pause in the approval of new games that lasted approximately eight months, the process resumed in April 2022, reflecting a relaxation in the wider crackdown on the tech sector.
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China’s National Press and Publication Administration has approved 105 new online games, showing support for the gaming industry following investor losses due to proposed gaming curbs. The administration’s statement indicated a commitment to the industry’s prosperity and health. Among the approved games were Tencent’s “Counter War: Future” and NetEase’s “Firefly Assault”. Previously, draft guidelines suggested banning certain online game incentives, which led to a significant drop in the share prices of companies like Tencent and NetEase.
The administration also reported that in 2023, 1,075 game version numbers were issued, with the majority being domestic. The domestic online games market’s sales revenue surpassed 300 billion yuan, and the number of gamers reached 668 million. The Game Working Committee encouraged the launch of high-quality products to foster the industry’s growth and contribute to cultural development.
In recent years, China has implemented measures to regulate the online gaming sector, including time restrictions for minors and a temporary suspension of new game approvals. These actions are part of broader efforts to address concerns about video game addiction and to regulate the tech industry.
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