XD CEO Huang Yimeng said Chinese regulators are ‘very well-versed with the video games industry’, despite a crackdown that has left the industry reeling. XD, operator of the TapTap games store, has grown rapidly since its 2019 IPO, but revenues are down this year as it awaits approval for its own titles. — SCMP
Beijing understands video games better than most people think, despite an ongoing industry crackdown, according to the co-founder of the Chinese gaming powerhouse XD, which is seeking to upend mobile game distribution with its zero-commission digital store.
In an interview with the South China Morning Post, XD co-founder and CEO Huang Yimeng said he remains optimistic about the future of video games in China, despite recent regulatory hurdles casting a pall over his company’s future. To Huang, though, Chinese gaming regulators are not fumbling in the dark, wreaking uncalculated havoc on the industry, as they are sometimes perceived.
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