The Chinese regulator will ease rules for online games
Author - Mansur Ismagulov
The Tech AI
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105 domestic games received approval in China after Tencent, NetEase, and Bilibili lost $80 billion in market capitalization. The companies' stocks rose: NetEase by 14%, Tencent by 4%, and Bilibili by 6.7%. The growth partially offset the losses. The regulator plans to gather opinions to improve the online games law.
105 domestic games received approval in China. This happened after last week, major gaming companies in the country, such as Tencent, NetEase, and Bilibili, lost $80 billion in market capitalization.
As a result of the actions taken, NetEase shares rose by 14%, Tencent gained 4%, and Bilibili recovered its value by 6.7%. Currently, the rise in stock prices has partially compensated for the incurred losses.
The Chinese regulatory body plans to continue gathering opinions from various parties to further make changes and improvements to the online gaming law.
Source: bloomberg.com
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