China’s publishing regulator on Tuesday approved the release of a third batch of video games after a freeze for most of last year, with industry-leader Tencent Holdings Ltd. still absent from the list of new titles.
Tencent Holdings has released a test version of a third-party developed smartphone game in China based on the US hit television show Games of Thrones, bolstering its pipeline that has been hit by government curbs of online gaming.
Tencent Holdings Ltd.’s shares surged on Friday after a local regulatory official said some new video games had been cleared for sale, ending a lengthy freeze in approvals that has spooked players in the world’s largest gaming market.
Chinese tech giant Tencent Holdings Ltd is cutting the marketing budget for its key gaming division, two sources told Reuters on Thursday, amid a crackdown on the industry in the mainland and a lengthy freeze on new game approvals.
Tencent Music Entertainment has delayed its planned US initial public offering (IPO) until at least November as the owner of China’s most popular music apps prefers to wait for global stock markets to stabilize, three sources said.