Apple said it will reduce App Store commission rates for developers in mainland China starting March 15, following communication with Chinese regulators. The standard commission rate for iOS and iPadOS apps will be lowered from 30% to 25%.

Commission rates for eligible developers under the App Store Small Business Program and Mini Apps Partner Program, as well as for auto-renewing subscriptions after the first year, will be reduced from 15% to 12%. Apple said developers will not need to sign new terms in advance to receive the adjusted rates.

Tencent said in a statement that it has taken note of Apple’s adjustment to the commission policy for the China App Store, a move made amid strong efforts by regulators that has buoyed sentiment across the industry. The company said the change reflects a response to and respect for the voices of Chinese users and the broader developer community, calling it a positive signal for the healthy development of the digital ecosystem. Tencent added that the shift would create a more open and mutually beneficial platform environment for both itself and developers, helping to spur innovation and support the continued prosperity of the technology application ecosystem, and said it will continue working with partners to provide users with higher-quality products and services.

Game stocks jumped in Hong Kong. NetEase and Tencent rose about 2%,