China OKs 105 online games in Christmas gesture of support after draft curbs trigger massive losses

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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.

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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