Explorer

Ban On Video Games: Chinese Gaming Stocks Dip As Firms Summoned To Ensure Compliance

China had last month ordered a ban on under-18 children and teenagers from playing video games for more than three hours a week.

New Delhi: Tencent Holdings, NetEase, and other gaming and media firms saw their stocks fall on Thursday, a day after Chinese authorities summoned them to ensure they implement the new rules laid down for the sector last month, Reuters reported.
China had last month ordered a ban on children and teenagers under the age of 18 from playing video games for more than three hours a week.
 
According to the Reuters report, Tencent shares fell 4 percent in Asia trade, while NetEase's Hong Kong-listed shares shed 6.45 percent after a 5 percent drop in its US shares overnight. Short video sharing and gaming firm Bilibili's Hong Kong-listed shares declined more than 7 percent.

What The Video Games Rule Says

China has in the last few months cracked down on a wide range of sectors, including tech, education, and property, in what is being seen as a bid to strengthen government control.
 
The new rules concerning video games sharply limit the time children might be whiling away playing online games.
 
Now, online gaming in China is available to under-18s only for one hour each — from 8 pm to 9 pm — on Fridays, Saturdays, Sundays, and public holidays.
 
On Wednesday, the gaming companies were told to implement the measures, and also to resist engaging in improper competition, and focus on driving innovation, official news agency Xinhua reported.
 
The Chinese regulators also said the companies should "resolutely curb incorrect tendencies such as focusing 'only on money' and 'only on traffic', and change rules and gameplay designs that induce players to indulge" the Xinhua report said.
 
Tencent and NetEase would work to become fully compliant with the requests, the companies were quoted as saying on Thursday.
View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headline

PM Modi Calls Congress A 'Bully' After Lawyers Write To CJI. Here's What He Said
PM Modi Calls Congress A 'Bully' After Lawyers Write To CJI. Here's What He Said
Actor Govinda Joins Eknath Shinde's Shiv Sena, Likely To Contest From Mumbai North West
Actor Govinda Joins Eknath Shinde's Shiv Sena, Likely To Contest From Mumbai North West
Sanjiv Bhatt Gets 20 Years In Jail Day After Conviction In 1996 Drug Seizure Case
Sanjiv Bhatt Gets 20 Years In Jail Day After Conviction In 1996 Drug Seizure Case
Kejriwal To Stay Delhi CM From Jail As High Court Finds 'No Legal Bar,' Ball In LG's Court Now
Kejriwal To Stay Delhi CM From Jail As High Court Finds 'No Legal Bar,' Ball In LG's Court Now
Advertisement
for smartphones
and tablets

Videos

Bihar Lok Sabha Polls 2024: ABP Exclusive With Papu Yadav, MP No Longer Contesting From PurniaVarun Gandhi Pens Emotional Letter To Pilibhit After Being Denied, Says 'Mai Aapka Hu Aur Rahunga'Delhi Excise Policy Case: With CM Arvind Kejriwal's Arrest, Who Will Run The State | Watch ReportLok Sabha Elections 2024: 'BJP Just Wants To Break The Aam Aadmi Party' says Saurabh Bhardwaj

Photogallery

Embed widget