China eases impact of new online gaming rules, Tencent shares stabilize

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Chinese authorities downplay consequences regulations on monetization of online games, which they announced in the second half of December. This prohibits companies from rewarding players for repeat connections as well as financial investments. China has vowed to overhaul regulation after fears of further regulatory crackdown hurt the share prices of China’s two largest gaming companies.

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Chinese authorities say they will “carefully study” public opinion. The statement stabilized the share price after falling 16%. Tencent. NetEase, whose performance fell by as much as 25%, saw little improvement. According to analysts, this is only a partial calming of the market.

Even their boss paid for the actions of the relevant bodies of the Chinese Communist Party – he lost his position, Reuters sources say Feng Shui.

At the same time, in December the authorities approved licenses for another 105 domestic publications. It is the increasing pace of licensing required for releases that is responsible for the growth of the Chinese gaming market in 2023. This comes after a year-long hiatus caused not only by stagnant licensing, but also by gaming regulation.

Source :Indian TV

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