Tencent has finally won approval for a new game. There is symbolism here. Beijing froze all game licensing last year. Now the government is signalling a limited easing of its tough stance on tech.
Investors should not read too much into this. The Chinese gaming giant still has a long way to go before it can claim to have made a comeback.
Tencent and its biggest local rival NetEase received approvals to launch new paid games for the first time in more than a year. Chinese game regulators ignored the duo in granting more than 240 approvals for new titles in recent months. In China, game companies need regulatory approvals to monetise new games.
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