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- Bilibili (NASDAQ:BILI) shares rose more than 6% on Thursday as investors moved back into the Chinese video game company amid easing concerns about last week’s crackdown on the industry.
- Shares of Chinese tech companies also moved higher on Wednesday after China’s regulatory agency attempted to soothe concerns.
- On Saturday, Chinese regulator National Press and Publication Administration tried to allay investor concerns by noting it would “earnestly study expressed concerns and views,” and would further amend the rules after taking in views from related government bodies, companies and users.
- The regulator is seeking public comment on the rules by Jan. 22, 2024.
- China also approved 105 domestic games on Monday, with titles also from Tencent (OTCPK:TCEHY) and NetEase (NTES).
- Last week, the NPPA issued an initial draft that said online games would not be allowed to set inductive rewards such as daily login, first-time recharge, and continuous recharge. The initial draft also said all online games must set user recharge limits and announce them in their service rules.
