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China approves 105 online games a big news

Updated: Jan 3

China's authority in charge of press and publication has approved 105 online games to boost the industry.The moves comes after the recent draft guidelines for curbing online gaming caused major losses for gaming companies.The approval of the 105 games was announced by the National Press and Publication Administration (NPPA).The NPPA described this action as a demonstration of their support for "the prosperity and healthy development of the online game industry.The guidelines forbid offering rewards for purchases and log-ins, place restrictions on user recharges, and issue alerts for excessive use.

The world's largest games market suffered an instantaneous and severe blow when the draft regulations were released as part of an attempt to solicit public feedback on the proposals. Tencent Holdings and NetEase, the two largest companies, lost tens of billions of dollars in market value as a result. Video game stocks in businesses like NetEase started to rise again once the permission was revealed. The permission "strongly demonstrates the clear attitude of the competent authorities to actively support the development of online games," according to China's state-run CCTV, which also stated that the majority of gaming businesses are greatly delighted.

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