China has proposed a plan to control the number of online video games available in the country, it is bid to prevent myopia affecting children.
General Administration of Press and Publications (GAPP), the body regulating and distributing news, print, and internet publications in the country, will control the number online video games, especially the new video games operated online.
GAPP will also implement an age-appropriate reminder system in line with China’s national conditions, and take measures to limit the time that minors spend playing online video games, according to the document jointly promoted by eight top-level government department, posted on the website of China’s education ministry on Thursday.
The document, without elaborating details of how to contain the online gaming segment, resulted in immediate share declines of Tencent and NetEase, the two major operators of online games in China, which topped 200 billion yuan in revenue last year and accounted for nearly 30 per cent of global income.
Hong Kong-listed Tencent saw shares decline 5 per cent, while stock of US-listed NetEase slumped 7.2 per cent immediately after the government announcement. Several Japanese gaming developers also saw shares dip as Chinese users are one of their major income contributors.
It is the latest attempt to rein in the online gaming industry by Chinese authorities, which froze game approvals since March this year amid an agency shakeup, according to a Bloomberg report in mid-August.
The new rule also confirms that gaming approval has been handed to GAPP, instead of the State Administration of Press, Publication, Radio, Film and Television that was previously in charge.
Source:zdnet.com
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