BusinessGamingGeneral News China OKs 105 online games in Christmas gesture of support after draft curbs trigger massive losses by Ethan Kim December 25, 2023 written by Ethan Kim December 25, 2023 11 comments Bookmark 31 China has given its approval for 105 new online games in a move seen as a supportive gesture towards the industry. This decision comes in the wake of proposed regulations that had led to substantial losses for investors in major game companies last week. The National Press and Publication Administration, in a statement released on its WeChat social media account, expressed its support for the online game industry. The approvals, granted by the Game Working Committee of the China Music and Digital Association, are being hailed as “positive signals” aimed at fostering the growth and healthy development of the online gaming sector. Among the approved games are Tencent’s “Counter War: Future” and NetEase’s “Firefly Assault.” The trigger for these regulatory developments was the draft guidelines proposing curbs on online gaming. These guidelines included measures such as banning incentives for daily log-ins or purchases and imposing limits on user recharges, as well as issuing warnings for “irrational consumption behavior.” The impact of these proposed curbs was significant, with the share prices of major video game makers, including Tencent and NetEase, plummeting last week. This resulted in losses amounting to tens of billions of dollars and had a broader impact on Chinese stock markets. Notably, in 2023, there were 1,075 game version numbers issued, with 977 being domestically produced and 98 imported. According to the Press and Publication Administration, the domestic online games market’s sales revenue exceeded 300 billion yuan ($42 billion) in 2023, with a staggering 668 million people engaging in online gaming. The Game Working Committee has urged its member units to utilize this opportunity to create high-quality products, thereby promoting the industry’s overall development. This move is seen as contributing to the cultural prosperity and development of China, aligning with the nation’s goal of becoming culturally influential. China has implemented various measures aimed at regulating the online games sector in recent years. In 2021, restrictions were imposed on the amount of time children could spend playing games, expressing concerns about gaming addiction. Approvals for new video games were also suspended for a period but were later resumed in April 2022 as part of a broader easing of regulatory measures within the technology industry. Table of Contents Frequently Asked Questions (FAQs) about Gaming Industry SupportWhat prompted China’s approval of 105 new online games?Which authority approved these online games in China?What impact did the proposed regulations have on the gaming industry?Can you name some of the games that received approval?How did the gaming industry perform in terms of sales revenue and user engagement in 2023?What is the goal of the Game Working Committee in light of these approvals?Have there been previous regulatory measures affecting the online games sector in China?More about Gaming Industry Support Frequently Asked Questions (FAQs) about Gaming Industry Support What prompted China’s approval of 105 new online games? China’s approval of 105 new online games was prompted by proposed regulations that had led to substantial losses for investors in major game makers. Which authority approved these online games in China? The approvals were granted by the National Press and Publication Administration in China. What impact did the proposed regulations have on the gaming industry? The proposed regulations, which included curbs on online gaming such as banning incentives for daily log-ins or purchases, caused the share prices of major game makers like Tencent and NetEase to plummet, resulting in losses amounting to tens of billions of dollars. Can you name some of the games that received approval? Among the games that received approval were Tencent’s “Counter War: Future” and NetEase’s “Firefly Assault.” How did the gaming industry perform in terms of sales revenue and user engagement in 2023? In 2023, the domestic online games market in China exceeded 300 billion yuan ($42 billion) in sales revenue, with a remarkable 668 million people engaging in online gaming. What is the goal of the Game Working Committee in light of these approvals? The Game Working Committee hopes its member units will utilize this opportunity to create high-quality products, promoting the high-quality development of the online game industry and contributing to cultural prosperity and development in China. Have there been previous regulatory measures affecting the online games sector in China? Yes, China has implemented various regulatory measures in recent years, including restrictions on the amount of time children could spend playing games and suspensions of approvals for new video games. These actions were part of broader efforts to regulate the technology industry. More about Gaming Industry Support China Approves 105 Online Games National Press and Publication Administration Impact of Proposed Regulations on Gaming Industry List of Approved Games China’s Online Gaming Market in 2023 Game Working Committee’s Goals Regulatory Measures in China’s Online Gaming Sector You Might Be Interested In A Minimum of Four Individuals Injured in Shooting Incident at Baltimore’s Morgan State University Hollywood Engages in Full-Scale Conflict Amidst Pandemic Fallout and Streaming Revolution Simone Biles wins 6th all-around title at worlds to become most decorated gymnast in history Senate Confirms Jacob Lew, Ex-Treasury Secretary Under Obama, as U.S. Ambassador to Israel DeSantis appointees seek Disney communications about governor, laws in fight over district Meta’s Chief Executive Mark Zuckerberg Sidelined Following ACL Surgery Chinaeconomic impactgame makersGaminggaming industryGeneral Newsonline gamesregulationssupport Share 0 FacebookTwitterPinterestEmail Ethan Kim Follow Author Ethan Kim is a world news reporter who covers breaking news stories from around the globe. He has reported on everything from natural disasters to international conflicts, and he is dedicated to bringing his readers accurate and timely information. previous post Afghan schoolgirls are finishing sixth grade in tears. Under Taliban rule, their education is over next post Harris to kick off 2024 with stops in Nevada, South Carolina, home to some of Democrats’ first votes You may also like Bookmark A woman who burned Wyoming’s only full-service abortion... December 28, 2023 Bookmark Argument over Christmas gifts turns deadly as 14-year-old... December 28, 2023 Bookmark Danny Masterson sent to state prison to serve... December 28, 2023 Bookmark Hong Kong man jailed for 6 years after... December 28, 2023 Bookmark AP concludes at least hundreds died in floods... December 28, 2023 Bookmark Live updates | Israeli forces raid a West... December 28, 2023 11 comments JournalistExpert December 25, 2023 - 9:00 am wow, china approvd 105 online games, gud news 4 game makers. Reply PoliticInsider December 25, 2023 - 10:14 am Imp points on china’s gaming stance, they restricted kids play before, now support, shows changing polices. Reply FinanceWhiz December 25, 2023 - 11:33 am sales went ↑ $42 bil, big numb of players, gaming is big biz in china. Gaming cmmittee wants high qual products, v imp. Reply CryptoExpert23 December 25, 2023 - 12:57 pm wow, china allows 105 new online games, they big support gaming indstry after huge losses, dis is gr8 news fo gamers! Reply SeriousBusinessMan December 25, 2023 - 2:38 pm Game Committee wants high-qulty games, culture+industry. Reply EconGeek December 25, 2023 - 3:47 pm those restrictns on online games were bad, caused stocks to fall, bt now china approves games, gud 4 market. Reply GamingEnthusiast December 25, 2023 - 8:54 pm Tencent’s “Counter War” got aprovd, gr8 game! Reply CarEnthusiast December 25, 2023 - 10:45 pm Gud news, maybe more car games coming, thx china 4 support gaming indstry! Reply PolicyWatcher December 25, 2023 - 10:56 pm China has strict rules 4 gaming, limited kid’s time, tech crackdown. Reply CryptoEconomist December 26, 2023 - 3:34 am i hrd abt dem regulations, stocks went down, big loss. Reply StatsNerd December 26, 2023 - 7:29 am 668 milln ppl playd games, $42 bil in sales, big numbers! Reply Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment. Δ