A few months ago, the Chinese government halted the issuance of video game licenses. Before a game was approved for release in the country, it had to go through a testing phase. The hiatus of the approval process meant bad things for the future of video games in China. Recently, the approval process of video games was resumed, and the stock market has reacted accordingly.
As reported by SCMP, Feng Shixin, an official from the CPC Publicity Department, announced on Friday that China’s new approval committee has reviewed the first batch of video games. Licenses for the approved titles are now being distributed.
“There is a big stockpile of games for review, so it takes a while,” says Feng Shixin. “We will continue to work hard. [We] hope everyone can be patient.”
It has been several months since Chinese players played a new video game. Chinese World of Warcraft players have reported seeing an outdated login screen because the newer versions were unable to get approved. In August, Chinese servers for Monster Hunter World were shut down shortly after release due to licensing issues.
As the good news spreads, the dry stock market for the video game industry is being affected. After a long decline, Tencent shares are on the rise. Legend of Mir developer Wemade Entertainment’s shares rose by nearly 12% in one day. Pearl Abyss shares have surged by 7% as they prepare a mobile launch for Black Desert.
“We hope through new system design and strong implementation, we could guide game companies to better present mainstream values, strengthen a cultural sense of duty and mission, and better satisfy the public need for a better life,” adds Feng Shixin.
The reopening of the approval process is a turning point in the Chinese video game industry. Feng Shixin warns game developers that they need to change their plans. “The industry should abandon the old, short-sighted ideology, and focus on quality, not quantity.”
This change will also positively affect Korea’s video game industry. Korean game developers will soon be able to bring their business to the world’s largest video game market.