Alibaba Scores More Wins After China Doles Out Gaming Licenses

China's gaming regulator on Thursday granted publishing licenses to 86 domestic online games.
Gaming titles belonging to Alibaba Group Holding Limited BABA, Baidu, Inc BIDU, and TikTok parent ByteDance Ltd made it to the list, Reuters reports.
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China's videogame regulator has started granting publishing licenses to new titles from April 2022, ending a months-long freeze in the world's largest mobile game market.
The country stopped issuing licenses in July 2021 after Beijing tightened rules on the industry.
In November 2022, Tencent Holding Ltd TCEHY bagged its first commercial game license in a year and a half since the country initiated a crackdown on the sector.
Price Action: BABA shares traded lower by 1.51% at $92.08 on the last check Thursday.