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Reading: China Imposes New Rules on Online Gaming, Shaking Up the Global Market
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China Online Gaming Regulations
PhotoNews Pakistan > Tech > China Imposes New Rules on Online Gaming, Shaking Up the Global Market
Tech

China Imposes New Rules on Online Gaming, Shaking Up the Global Market

Web Desk
By Web Desk Published December 23, 2023 2 Min Read
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Photo: Getty Images / VCG
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Chinese regulators announced comprehensive rules on Friday to curb spending on online games impacting the world’s largest gaming market. The regulations include spending limits for online games and a ban on certain player rewards.

The announcement triggered investor panic, erasing nearly $80 billion in market value from China’s top gaming companies, Tencent Holdings and NetEase.

Tencent’s shares plummeted by up to 16%, while NetEase saw a drop of as much as 25%. The new rules prohibit daily log-in rewards, first-time spending rewards, and consecutive spending incentives in online games.

The tech investor Prosus, owning a 26% stake in Tencent, also experienced a 14.2% decline in its shares. This regulatory move has raised concerns about policy risks and damaged investor confidence in the gaming sector.

#VantageOnFirstpost: China's government has introduced extensive regulations, restricting spending on online games. This has triggered a massive blow to the world's biggest games market. @Palkisu analyses Xi's latest crackdown and its impact on the world's biggest gaming market. pic.twitter.com/T8d0jFPU4z

— Firstpost (@firstpost) December 22, 2023

Broader Implications and Industry Adaptations

The new regulations represent Beijing’s increasing scrutiny of the gaming industry, continuing the trend from previous restrictions like playtime limits for minors. These rules aim to curb in-game spending and require games to set limits on digital wallet top-ups. They also prohibit probability-based draws for minors and auctioning of virtual items. However, the industry may find some relief in the proposal requiring a 60-day deadline for game approvals.

The announcement also included licenses for 40 new imported games, suggesting a potential opening for more games in China despite the strict regulations. Additionally, these rules highlight Beijing’s focus on data security, mandating that game publishers store their servers within China. The administration seeks public comment on the rules until January 22, 2024. With notable declines in U.S. and European gaming stocks, the global gaming market has felt the ripple effects.

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