Chinese regulators approve the first batch of video games for monetization, ending a freeze that hurt the nation’s largest tech firms, according to a report by CNBC on Monday.
- US-listed shares of NetEase, one of China’s biggest gaming companies, rose by over 4% in early trading on Monday as live-streaming giants Bilibili, Huya and DouYu also soared.
- Chinese companies require approval from regulators to monetize games. China’s National Press and Publication Administration approved 45 new games. But, titles from NetEase and Tencent were not included in the list.
- Meanwhile, the approval signals a slightly more favorable view from regulators toward the gaming sector after months of struggles amid regulatory tightening in China across the technology sector.
Authorities in the world’s biggest economy have been worried about gaming addiction among children under 18 years old. NTES is up +3.16%, BILI is up +7.02%, HUYA is up +3.46%