China OKs 105 online games in Christmas gesture of support after draft curbs trigger massive losses
ABC News
China's authority in charge of press and publications has approved 105 online games, saying it fully supports the industry after newly proposed curbs caused massive losses for major game companies
BANGKOK -- China’s press and publications authority has approved 105 new online games, saying it fully supports the industry after proposed curbs caused massive losses last week for investors in major games makers.
The National Press and Publication Administration issued a statement on its WeChat social media account Monday saying the 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.”
Tencent's “Counter War: Future” and NetEase’s “Firefly Assault” were among games approved.
Draft guidelines for curbs on online gaming had caused share prices of video game makers like Tencent and Netease to plunge on Friday, causing losses of tens of billions of dollars and dragging Chinese benchmarks lower.
The administration's guidelines said online games would be banned from offering incentives for daily log-ins or purchases. Other restrictions include limiting how much users can recharge and issuing warnings for “irrational consumption behavior."
