China Is Softening Stance on Gaming After $80 Billion Rout
- Beijing approves games, seeks feedback on new restrictions
- Tencent and NetEase shares plunged on Friday on crackdown fear
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China approved 105 domestic games on Monday, the latest indication that Beijing is softening its stance after its move to tighten industry restrictions led to a $80 billion rout last week.
The titles included those operated by Tencent Holdings Ltd. and NetEase Inc., China’s two leading game publishers that have been pummeled by Beijing’s new rules. Monday’s approvals show the Chinese authorities support the development of online gaming, an industry association said in a post on WeChat republished by the official Xinhua news agency.