Tencent Prepared To Launch Bevy Of Games This December As Domestic Regulatory Crackdown Cools Down

Tencent Holding Ltd TCEHY eyed the launch of a Valorant esports league when the hit shooter title debuts in China this year, reflecting a sense of ease in the sweeping regulatory crackdown.
Tencent unit TJ Sports recently discussed setting up the competition with top Chinese esports players, Bloomberg reports.
Tencent could kick off a tournament by the summer as it launched the game domestically.
Also Read: China Taps Alibaba, Tencent To Beat US Sanctions
Launched globally in 2020, Valorant has become one of the most popular esports titles, vying for a multibillion-dollar market along with rival shooters like Activision Blizzard, Inc's ATVI Overwatch.
Tencent won approval to roll out Valorant and Pokémon Unite only in December.
Analysts, including Morgan Stanley, raised their price targets on Tencent in recent weeks, anticipating a recovery in growth as restrictions ease and efforts to sell video ads gain momentum.
Price Action: TCEHY shares closed at $48.28 on Tuesday.