Chinese tech giant Tencent Holdings wins approval for gaming blockbusters

Tencent Holdings secured a green-light for another clutch of major game titles, reinforcing hopes Beijing is easing a crackdown on the world’s largest mobile gaming arena.

It was only the second time the Chinese tech giant gained licences for blockbuster titles since Beijing resumed issuing them in April. “Pokémon Unite,” was among the 40-plus foreign online titles approved in December by the National Press and Publication Administration.  It also cleared other Tencent entries, including popular esports title Valorant. 

Beijing launched a campaign to rein in its tech industry’s growing power. The subsequent clampdown, which ensnared sectors from e-commerce to fintech and even education over a tumultuous year, spread to online gaming around August 2021. Regulators introduced stringent measures, such as capping play time for minors to a mere three hours a week, and imposed other requirements aimed at curbing addiction. Growth at Tencent has evaporated as the company found itself struggling to wring new revenue from aging cash cows such as Honor of Kings. 

This month, co-founder Pony Ma upbraided employees for slacking on the job and lacking urgency.

NetEase, Tencent’s smaller rival, also won approval for its Fantasy Life in December’s batch.