It was only the second time the Chinese tech giant gained licenses for blockbuster titles since Beijing resumed issuing them in April.
The latest round of approvals also included several Korean games, suggesting regulators are relaxing their stance on foreign entertainment.title won approval, driving gains of between 5% and 12% in rival developers including Krafton Inc. and Nexon Co. in Tokyo.
“It was the first time since 2016 that Korean online games got approvals on a big scale,” Ahn Jaemin, an analyst at NH Investment & Securities, said in a note.Beijing launched a campaign to rein in its tech industry’s growing power in 2021. The subsequent clampdown, which ensnared sectors from e-commerce to fintech and even education over a tumultuous year, spread to online gaming around August 2021.
Regulators introduced stringent measures, such as capping play time for minors to a mere three hours a week, and imposed other requirements aimed at curbing addiction. Growth at industry leader Tencent evaporated as the company found itself struggling to wring new revenue from aging cash cows such as
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