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China Approves 88 Games in January, Including Titles by Tencent and NetEase

A Tencent logo is seen in Beijing, China September 4, 2020. (Reuters)
A Tencent logo is seen in Beijing, China September 4, 2020. (Reuters)
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China Approves 88 Games in January, Including Titles by Tencent and NetEase

A Tencent logo is seen in Beijing, China September 4, 2020. (Reuters)
A Tencent logo is seen in Beijing, China September 4, 2020. (Reuters)

China's video games regulator on Tuesday granted publishing licenses to 88 online games, including titles belonging to Tencent Holdings Ltd , NetEase Inc and miHoYo.

Shenzhen-based Tencent, the world's largest gaming company, received at least one game license for a mobile game named "Yuanmengzhixing", the list published by the National Press and Public Administration showed.

NetEase, China’s second largest gaming company, also received a license for a shooting game named "Chaofanxianfeng". miHoYo, the famed developer behind Genshin Impact, secured one license for a game named Honkai: Star Rail.

Unlike in most other countries, video games need approval from regulators before release in China, the world's largest gaming market.

When Beijing cracked down on the gaming industry last August, it initiated a nine-month freeze on the license approval process.

Last month, China granted publishing licenses to 44 foreign games for domestic release after nearly 18 months, effectively marking the end of China's crackdown on the industry.

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EIB to Allot 70 Bln Euros for Tech Sector in 2025-2027

FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
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EIB to Allot 70 Bln Euros for Tech Sector in 2025-2027

FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo

The European Investment Bank is likely to announce on Friday plans to pump 70 billion euros into the development of European technology firms over the next three years, EU officials said.

The program, called Tech EU, is meant to help Europe compete with China and the United States in the race for innovative clean and digital technologies.

The EIB, the biggest multilateral lender in the world with a balance sheet total of 556 billion euros, expects its own 70 bln euros to mobilize a further 250 billion euros of private cash as investors crowd into projects supported by the EIB, Reuters quoted EU officials as saying.

The 70 billion is to be split into 20 billion euros for equity and quasi-equity, 40 billion euros for loans and 10 billion for guarantees in 2025-2027, the officials said.

The plan is to complement European Commission efforts to support higher risk ventures and innovative companies throughout their investment journey, from proof of concept to an initial public offering.

The EIB wants to focus on supercomputing, artificial intelligence, digital infrastructure, critical raw materials, green industries such as offshore wind, health, security and defense technologies, robotics and advanced materials, the officials said.