China: all new online games

China: all new online games

14. September 2021 0 By Horst Buchwald

China: all new online games

Beijing, 9/14/2021

China has temporarily suspended permits for all new online games. The move was announced at a meeting with video game companies, including Tencent and NetEase, on Wednesday. In response, the market capitalization of Tencent and NetEase dropped by over $60 billion.

In August, China had limited online gaming for minors to 3 hours per week.

Since 2019, underage gaming had been limited to 1.5 hours per day.

With the tightening of gaming restrictions, China is continuing its crackdown on the tech sector, which has wiped out $1 trillion worth of stock globally.

Hits: 4