Aug 04, 2021 12:00:00

Chinese state media criticized 'games are spiritual opium' and stock prices of game companies such as Tencent plummeted

In recent years, it has become a social problem for young people to be too enthusiastic about games in China, and regulations such as the

introduction of a 'real name verification system' have been implemented to limit the playing time of minors. On August 3, 2021, the stock prices of Tencent , NetEase , XD, etc. were released after the economic reference newsletter , a Chinese state-owned economic newspaper, published an article criticizing that ' games are spiritual ahen'. It was a situation of a sudden drop.

China gaming shares dive after'spiritual opium' warning
https://techxplore.com/news/2021-08-china-gaming-spiritual-opium.html

China's Tencent limits gaming for minors after media outcry
https://techxplore.com/news/2021-08-china-tencent-limits-gaming-minors.html

Tencent, NetEase shares tank after Chinese media calls gaming'opium'
https://www.cnbc.com/2021/08/03/tencent-netease-shares-tank-after-chinese-media-calls-gaming-opium.html

The article published by the Economic Reference Bulletin warns that 'online game addiction' is widespread among children, and Tencent's popular game is a game that minors are crazy about. ' Honor of Kings ' is mentioned. In the article, he introduced a case where a student who was too enthusiastic about Honor of Kings played the game for eight hours a day.

The article also equated the game with drugs, stating that 'the harmful effects of games are becoming more and more widely recognized in society, and games are often referred to as'mental opium'and'electronic drugs'.' .. He then cites the view that 'industry should not be developed in a way that destroys generations' and accuses the game of having a negative impact on young people.

The online economic reference article was deleted a few hours later and republished with headlines and references to 'opium' removed, but the article caused the stock prices of game companies to plummet. .. In the Hong Kong stock market, Tencent shares, which distribute Honor of Kings, fell by nearly 10% immediately after the article was published, and finally fell 6% from the previous day. NetEase and XD also fell 8% from the previous day, and Nexon 's stock price also fell 6.5% from the previous day on the Tokyo stock market.

In 2019, China will ban children under the age of 18 from playing online games between 22:00 and 8:00 the next morning, limiting weekday play time to 1 hour 30 minutes and holidays to 3 hours. The regulation 'to do'

was established . However, Tencent has further tightened game regulations in a statement released after the economic reference article was published, promising to limit play time under the age of 18 to 1 hour a day on weekdays and 2 hours on holidays. Did.

Tencent also banned children under the age of 12 from spending money on games, and called on the industry as a whole to discuss the possibility of banning children under the age of 12 from playing the game itself. That thing.

Daniel Ahmad, senior analyst at Niko Partners , an Asian game market research firm, said most of the revenue from game companies in China comes from players over the age of 18. 'Even if measures are taken to prevent young people from relying on games, they will not be able to stop the gamer's play from generating revenue,' he said.

In recent years, the Chinese government has tightened its squeeze not only in games but also in various fields. In July 2021, it was announced that regulations on online cram schools would be tightened , existing cram schools would be banned from listing as a for-profit company, and classes on holidays and long vacations would not be allowed. In addition, for Chinese companies aiming to be listed overseas, there is also a rule that 'if you have user data for 1 million people or more, you must undergo a security review by a government agency before listing'. increase.

China announces new rules for 'Chinese companies aiming to be listed overseas' --GIGAZINE