The administration is seeking public comment on the rules by January 22.List of casinos in the U.S. Friday’s news wiped about $54bn off the company’s share value, according to Bloomberg News. Several United States and European video games developers saw shares take a hit after Friday’s announcement, but the losses were small when compared with Tencent’s 16 percent tumble.

The draft comes as China’s video game market has returned to growth this year as domestic revenue rose 13 percent to 303 billion yuan ($42.6bn), according to the industry association CGIGC.ĭue to the sheer size and impact of Chinese gaming giants, the global video games market could also be affected in the long run. The new rules reflected Beijing’s concerns about user data, requiring game publishers to store their servers within China. Its first major move against the gaming sector came in 2021, when Beijing set strict playtime limits for under-18s and suspended approvals of new video games for about eight months, citing gaming addiction concerns.Īs a result of the crackdown, 20 were the most difficult years on record for the Chinese gaming industry as total revenue shrank for the first time.Ĭhina revised its position last year and started approving new games again, but regulators have continued to set their sights on curbing the time children play in-game and the amount of money they spend.Īs part of Friday’s draft, which signifies the strictest limits yet, games are also banned from offering probability-based draw features to minors, and from enabling the auction of virtual gaming items. All are common incentive mechanisms in online games.ĬCTV reported that regulators may now change the wording of sections of the draft rules that limit the ability to encourage daily logins and wallet top-ups.Ĭhina has become increasingly tough on video games over the years.

Investors went into a tailspin, leading to as much as $80bn in market value being wiped off from China’s two biggest companies, industry leader Tencent Holdings and Netease.Īccording to the new rules, online games would be banned from giving players rewards if they log in every day, if they spend on a game for the first time, or if they spend several times on a game consecutively. Its impact was immediate, dealing a massive blow to the world’s biggest games market. The authorities released a draft on Friday with a wide range of rules and regulations aimed at curbing online spending and rewards in video games.

Keep reading list of 3 items list 1 of 3 First Dreamliner delivery in four years lands in China list 2 of 3 After bumpy recovery, China’s economy faces serious headwinds in 2024 list 3 of 3 China tries to ‘bury the memory’ and trauma of zero-COVID era end of list

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