Tencent, NetEase Score More Wins As China Awards More Gaming Licenses: Report

Tencent Holdings Ltd TCEHY, NetEase Inc NTES, and miHoYo scored a win as China granted publishing licenses to 88 online games.
The largest gaming company Tencent won at least one game license for a mobile game named "Yuanmengzhixing," Reuters reports.
China's second-largest gaming company NetEase bagged a license for a shooting game named "Chaofanxianfeng."
miHoYo, the famed developer behind Genshin Impact, won one license for a game named Honkai: Star Rail.
Beijing initiated a nine-month freeze on the license approval process as a part of a sweeping crackdown on the sector.
In December last year, China granted publishing licenses to 44 foreign games for domestic release after nearly 18 months, marking the end of China's crackdown on the industry.
In November 2022, Tencent bagged its first commercial game license in a year and a half for an action game titled "Metal Slug: Awakening."
NetEase won a license in November for a role-playing game titled "Journey to the West: Return," its second license since the freeze was lifted.
Unlike in most other countries, video games need approvals from regulators before a release in China, which is also the largest gaming market.
Price Action: TCEHY shares traded lower by 0.03% at $47.78 on the last check Tuesday.
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