China Issues 87 New Gaming Licenses in February

In February, Chinese authorities granted licenses for 87 new video games. According to the South China Morning Post, prominent companies such as Tencent and NetEase received approval for their titles. To date, a total of 175 game licenses have been approved in 2023. In the previous year, regulators gave the green light to 468 domestic games and 44 imported titles. The latest approvals come after a report revealed that the Chinese gaming market experienced a 10.3% decline in sales to $39.7 billion in 2022, marking the first decrease since 2003.