In a tweet, Niko said that the stock price of Tencent, the world’s largest game company, saw its stock price rise.
Chinese regulators have restarted game licensing! First games were announced and Tencent’s stock price is climbing quickly!! pic.twitter.com/HTbheKt7xN
— Niko Partners (@nikochina) December 21, 2018
That’s good news for game companies around the world, as China’s regulators have been stalling for months on new game approvals. Developers around the world complained about the shutdown of certification of new games in China. By law, the Chinese government has to approve every game released in the country.
Previously, the State Administration of Press, Publication, Radio, Film, and Television approved games. But it spun off a new group called the State Administration of Radio and TV, which has taken over the game licensing. Another agency, the Ministry of Culture has been approving games since March. But it takes both agencies to get approval, and that has taken months to happen.
Below is a tweet showing stock prices rising for game companies.