China cracks down on the online games industry

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China would have temporarily suspended the approval of all new online games in the country. This was reported by the South China Morning Post Thursday. Later, however, the newspaper corrected the coverage.

In the Chinese government’s fight against youth addiction to games, Chinese creators of games such as Tencent and NetEase received a new tap on Thursday.

Thursday aftermarket, the Chinese newspaper corrected the coverage. After the market closed, the South China Morning Post reported that the authorities will only delay the approval process. However, how long this will be the case is unclear.

The Chinese authorities, led by the Publicity Department of the Chinese Communist Party and the gaming industry regulator NPPA, spoke this week with representatives of Tencent and NetEase about how they will restrict minors in gaming, the newspaper reported Thursday.

In 2018, there was already a nine-month moratorium on new games, which hit many small developers.

The Tencent share fell 8.5 percent on Thursday. On Friday the stock recovered slightly with a price gain of more than 1 percent. NetEase wins 2.7 percent this morning.

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