China OKs 105 online games in Christmas gesture of support

BANGKOK — China’s press and publications authority has approved 105 new online games, saying it fully supports the industry after proposed curbs caused massive losses last week for investors in major games makers.

The National Press and Publication Administration issued a statement on its WeChat social media account Monday saying the approvals by the Game Working Committee of China Music and Digital Association were “positive signals that support the prosperity and healthy development of the online game industry.”

Tencent’s “Counter War: Future” and NetEase’s “Firefly Assault” were among games approved.

Draft guidelines for curbs on online gaming had caused share prices of video game makers like Tencent and Netease to plunge on Friday, causing losses of tens of billions of dollars and dragging Chinese benchmarks lower.

The administration’s guidelines said online games…