English|China Approves Game Titles After 8-Month Freeze
文章图片
Image Source: Visual China
BEIJING, April 11 (TMTPOST) — China issued game registration numbers (GRNs) to 45 mobile games on Monday after 8 months of suspension, delivering a signal that Beijing is ready to ease pressure on the sector.
Companies that have received GRN on Monday include XD.com, YOOZOO, iDreamSky, 4399, 37 Interactive Entertainment and G-bits, etc.
The National Press and Publication Administration of China issued GRNs to 87 game titles in July 2021 and then stopped the issuing of GRNs since then. This is the first batch of GRNs that the National Press and Publication Administration has released since last July.
Before the announcement on Monday, rumors circulated in the game industry in China on April 11 that the authority had issued GRNs to a number of mobile games.
Pundits said that the game companies in China will then be able to quickly roll out new products in the market after the National Press and Publication Administration starts handing out GRNs again. There will be more new games in the market, which grants players access to more games.
In 2021, the game industry in China was heavily impacted by a halt to the issuing of GRNs and increasing regulatory crackdown on games in order to protect minor users online. The authority imposed restrictions on the gameplay of minors, allowing them to only play mobile games for up to one hour on Friday, Saturday and Sunday. The valuation of the game sector dropped to the lowest in the past few years.
The halt to issuing GRNs pushed Chinese game developers and publishers to focus on overseas markets. In 2021, game titles from Chinese developers achieved revenues of US$18.013 billion overseas, registering year-on-year growth of 16.59%, higher than the 6.4% revenue growth in the Chinese market.
【English|China Approves Game Titles After 8-Month Freeze】Some Chinese game companies saw their share price rise on Monday. NetEast’s share price rose by 7.8% while Bilibili’s share price jumped by over 9%.
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