China is freezing the modern video games but excluding its biggest player

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China is freezing the modern video games but excluding its biggest player

China lifted its ban on modern video games after nearly a year of banning games. 

Its governing arm approved 80 new games today, Reuters reported for the first time. 

But oddly, none of them are the largest gaming company in the country, Tencent.

Tencent is known as the company that owns WeChat, a widespread application in China that can pay, host small applications, and connect people through messages and emoji. 

But its main source of revenue is its video games like Arena of Valor (also known as Honor of Kings), the League of Legends, the other heavily invested battlefields and the FortNite of PlayerUnknown. 

But as China tightened its video game rules this year and Tencent struggled to adapt, the company set its sights on the international market instead, especially as Fortnite made a profit of $ 3 billion this year.


Tencent was quick to respond to the good news
Earlier this week, the China Securities Journal reported that an initial handful of matches had been approved, quoting the deputy director of the Communist Party's propaganda unit. 

Tencent was quick to respond to the good news, saying in a statement Bloomberg noted: "This is a great inspiration for the entire sector."

The costly ban on an industry that has made more than $ 30 billion this year has happened quickly and has been strictly enforced. In March, China quickly stopped approving new versions of video games, causing Tencent's profits to fall for the first time in a decade, as the headlines were not in the hands of the public. 

In August, Beijing formally beefed up the ban days after President Xi Jinping gave a speech about myopia and recommended stopping video games as a solution. 

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In November, Tencent began demanding users to prove their age and identity in order to impose a stricter curfew on young players.

Although today's news means the return of video games to work, the system for obtaining approval for new titles remains ambiguous. 

Large companies such as Tencent that suffered losses may need to rely on backup plans.

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