The long wait is over for Tencent Holding Ltd, a multinational investment company. Finally, its games appeared on the list of approved gaming licenses after a months-long halt on approvals.
It is said that the Chinese President, Xi Jinping was bothered by the negative impact of online games to the children. Thus, urging government officials in all levels to implement regulations on mobile games strictly.
Cases of myopia in the country were inadvertently linked to the younger generation’s addiction to mobile games. Following the authorities’ constriction on the gaming industry, gaming companies like Tencent suffered decrease on its shares by 20 percent and roughly 200 billion dollars of a deficit in its market value.
After the long halt, regulators finally continued its approval on the production of mobile games last December. But, Tencent’s game was not included on the approved list until Thursday. The company then released a test version of a smartphone game based on a successful US TV show, Game of Thrones. Surprisingly, the firm’s shares increase to more than three percent which, according to its investors, calls for a celebration.
Tencent conformed to the Chinese government’s restrictions on mobile games in the country, and the company has played its part in the deal. It sets limits on playing games with only a maximum of one hour a day for children 12 years old and below, and not more than two hours for those aged 13 to 18.
Moreover, the State Administration of Press and Publications, under the direction of the President will also control the number of games operated online. Though there are certain limitations as to the amount of time these minors will be exposed to video games, probing problems on the growing number of children who have myopia has not been resolved.