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Tencent And NetEase Score Wins As Chinese Regulator Doles Out Gaming Licenses; Alibaba Bags One This Time Too – Alibaba Group Holding (NYSE:BABA), NetEase (NASDAQ:NTES), Tencent Holdings (OTC:TCEHY) – Stocks to Watch
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Tencent And NetEase Score Wins As Chinese Regulator Doles Out Gaming Licenses; Alibaba Bags One This Time Too – Alibaba Group Holding (NYSE:BABA), NetEase (NASDAQ:NTES), Tencent Holdings (OTC:TCEHY)

ByAnusuya Lahiri

Feb 10, 2023
Tencent And NetEase Score Wins As Chinese Regulator Doles Out Gaming Licenses; Alibaba Bags One This Time Too - Alibaba Group Holding (NYSE:BABA), NetEase (NASDAQ:NTES), Tencent Holdings (OTC:TCEHY)

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  • China’s video games regulator approved 87 new video games for February, including titles under Tencent Holding Ltd TCEHY, Alibaba Group Holding Limited BABA, and NetEase, Inc NTES.

  • Leading gaming company Tencent won at least one game license for a mobile game named “Wangzhewanxiangqi,” Reuters reports.

  • Alibaba bagged approval for a game named “Chunqiuxuanqi.” 

  • Also Read: Tencent Prepared To Launch Bevy Of Games This December As Domestic Regulatory Crackdown Cools Down

  • NetEase won a license for its mobile game, “Journey to the West: Shikong.”

  • XD Inc XDNCF bagged a license for a title named “Sausage Party.”

  • In November 2022, Tencent bagged its first commercial game license in a year and a half since the country initiated a crackdown on the sector.

  • Unlike in most other countries, video games need approvals from regulators before a release in China, which is also the largest gaming market. 

  • Price Action: TCEHY shares traded higher by 1.33% at $48.88 on the last check Friday.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Image and article originally from www.benzinga.com. Read the original article here.

Anusuya Lahiri

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