China Reveals New Limits

Drama

25 December 2023 13:24

China unveiled preliminary guidelines to curb extravagant spending on online gaming, representing the latest effort by the ruling Communist Party to assert authority over the virtual economy. This announcement led to a significant drop in the stock prices of major Chinese gaming companies, Tencent and NetEase. The guidelines, issued by China's gaming regulator, the National Press and Publication Administration, state that online games are prohibited from providing incentives for daily log-ins or purchases.

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