China will ban minors from playing games for more than three hours per week. Holidays are an exception. The government will impose the strictest controls on youth entertainment, hitting the world's largest mobile gaming arena.
Gaming platforms, from Tencent to NetEase, can now only offer online games to minors between 8:00 pm and 9:00 pm on Fridays, weekends and holidays. The state news agency Xinhua reported this on Weibo, citing a notice from the National Press and Publication Bureau.
The new rules, which limit teenagers' playing time to three hours a week, will replace those established in 2019 (then the limit was 1.5 hours a day).
Minors are only part of their business, especially after the recent restrictions, according to Tencent and other Chinese companies. For example, the country's largest gaming company said that revenue from minors is less than 3% of its gross gaming revenue in China.
Superb.
NetEase indicated that it earns less than one percent of its income from minors. In Tencent's case, schoolchildren, investment bank Jefferies, generate about five percent of online gaming-related income.
This guys lie, as all income is accounted to the accounts of parents or to fake accounts.
Also important is that free time later transforms to big payments as soon as they go to work. And lack of this free time and addition will always transform to lack of income later.
The Chinese government on Wednesday urged gaming firms including Tencent and NetEase to enforce the new rules for the segment. In fact, the companies were obliged to monitor how much time underage users spend in online games and to limit it to three hours a week, as required by the new law.
Companies were warned that those who "insufficiently" adhere to the new rules would face severe punishment. The authorities also suggested that gaming companies focus on spurring innovation instead of fighting each other inappropriately.
Tencent and NetEase crashed and dragged down the Hang Seng after the SCMP reported that China will suspend approval for new online games, heating up Beijing’s campaign against gaming addiction.
It looks like you're new here. If you want to get involved, click one of these buttons!