Tencent finally gets some good news about games in China
Shares of the Chinese internet giant, the world's largest gaming company, rose more than 5% Friday after a government official signaled a prolonged freeze on approvals to make new games finally come to an end.
"Approval for first game play has been completed and we are working on issuing licenses," said Feng Shixin, senior employee at the publishing department of the communist party at a game conference Friday.
But winter can now be against Tencent and other gaming companies affected by freezing on new licenses.
Fang the industry to be patient when officials work through the feedback in applications and stated what the government expects of it.
"We hope through it new system … we could guide game companies to better present common values, strength a cultural sense of duty and mission, and better satisfy the public's need for a better life, "said Feng. [1[ads1]9659008] Despite the Friday's jump, Tencent shares are still around 35% from high in January. Stocks in Netease (NTES), a major Chinese game developer listed in New York, also increased after-sales. Tencent Music shares rise after stock market debut ” data-src-mini=”//cdn.cnn.com/cnnnext/dam/assets/181212112634-tencent-qq-music-app-0817-restricted-small-169.jpg” data-src-xsmall=”//cdn.cnn.com/cnnnext/dam/assets/181212112634-tencent-qq-music-app-0817-restricted-medium-plus-169.jpg” data-src-small=”http://cdn.cnn.com/cnnnext/dam/assets/181212112634-tencent-qq-music-app-0817-restricted-large-169.jpg” data-src-medium=”//cdn.cnn.com/cnnnext/dam/assets/181212112634-tencent-qq-music-app-0817-restricted-exlarge-169.jpg” data-src-large=”//cdn.cnn.com/cnnnext/dam/assets/181212112634-tencent-qq-music-app-0817-restricted-super-169.jpg” data-src-full16x9=”//cdn.cnn.com/cnnnext/dam/assets/181212112634-tencent-qq-music-app-0817-restricted-full-169.jpg” data-src-mini1x1=”//cdn.cnn.com/cnnnext/dam/assets/181212112634-tencent-qq-music-app-0817-restricted-small-11.jpg” data-demand-load=”not-loaded” data-eq-pts=”mini: 0, xsmall: 221, small: 308, medium: 461, large: 781″ src=”data:image/gif;base64,R0lGODlhEAAJAJEAAAAAAP///////wAAACH5BAEAAAIALAAAAAAQAAkAAAIKlI+py+0Po5yUFQA7″/>