China approves 115 video games for January, the most in 18 months, in supportive sign after December market rout

The 115 video game approvals tops the 105 approved in December as Beijing seeks to signal support for the industry after scrapping controversial new rules

A draft regulation published in December that would have capped player spending wiped US$80 billion off Chinese gaming stocks, leading to an official’s removal

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A man plays an online game developed by Chinese tech giant Tencent on a train from Henan to Beijing on September 15, 2021. Photo: AP

Published: 8:00pm, 26 Jan 2024

China approved 115 new video game titles in the first month of 2024, the largest batch of approvals in 18 months, in a supportive gesture to the industry.

The surge in the number of approvals came after the recent retraction of a regulatory proposal that has weighed on the industry since causing a rout in gaming stocks such as Tencent Holdings and NetEase. Shortly after the proposal was published, China approved 105 titles for sale in the country in its December batch, the first time it approved more than 100 games at once since July 2022.

Among this month’s approvals is a mobile game Tencent developed in collaboration with the American sport league National Basketball Association (NBA), which has a dedicated following in China, according to the list published on Friday by the National Press and Publication Administration (NPPA). Re Xue Mei Zhi Lan, which translates roughly as Hot-Blooded NBA, appears similar to NBA Infinite, which Tencent developed for overseas markets.

Other major local developers who had games approved this month include Lilith Games, Shenzhen Zhongqingbaowang Network Technology, and 37 Interactive Entertainment.

The accelerated pace for granting more video game licences in the last two months comes as Beijing looks to shore up confidence in the sector. Last month’s draft regulation, which included a cap on user spending in games and a ban on “excessive” rewards to lure in users, was followed by a plunge in stock values, wiping out as much as US$63 billion in value from Tencent and NetEase alone at one point.

Chinese listed gaming firms listed in Shanghai, Hong Kong or the US have collectively lost about US$80 billion in value since the draft was published.

After the market tumult, a key official involved in overseeing the country’s video gaming market was removed, the Post reported earlier. The NPPA took the proposed regulation off its website on Tuesday.