Tencent has begun to recover after 2018’s Chinese game approval freeze ran it through the wringer.
Shares in the Chinese publisher hit an over-six-month high last week, reports CNBC, and are 10 per cent higher this year so far than in 2018. That means shares have gained nearly $40 billion in value.
Part of this renewed growth could be thanks to China’s decision to open approvals back up - even if they have had to reinstate the freeze on more new titles to catch up on the backlog.
It’s a far cry from the rough ride Tencent experienced last year, losing $20 billion in value thanks to China’s crackdown on new game approvals.
You can read the full story over on PocketGamer.Biz.