China Is Softening Stance on Gaming After $80 Billion Rout

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China Is Softening Stance on Gaming After $80 Billion Rout

Bloomberg2023-12-25

Beijing approves games, seeks feedback on new restrictionsTencent and NetEase shares plunged on Friday on crackdown fearChina approved 105 domestic games on Monday, the latest indication that Beijing ...

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ZhongRenChun
·2023-12-25
Yes I agree games these days are extremely greedy charging players hundreds of dollars just for a video game item. There should be some limit on the price of video game items. Or perhaps they should force Developers to switch to a monthly subscription plan like Netflix. A $10 a month plan would be more sensible than charging $100 for a single video game item. I also think there should be stamina limits so you cannot play the game excessively. Like once you reach 4 hours a day you ran out of stamina and your character goes to sleep for 12 hours.
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melissa02q88
·2023-12-25
Wow nice
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Monday’s approvals show the Chinese authorities support the development of online gaming, an industry association said in a post on WeChat republished by the official Xinhua news agency. Chinese officials rekindled fear that they will start another round of tech crackdowns after top gaming regulator National Press and Publication Administration announced on Friday new rules to limit the development of online games, including an unspecified cap on spending by adult players. Additional restrictions include a ban on rewards for frequent log-ins and forced player-duels, and even a prohibition on content that violates national security. As Tencent and NetEase saw their market value plunge by tens of billions of dollars in Hong Kong on Friday, the NPPA announced during trading hours the approval of 40 imported gaming titles, including those operated by the two companies. 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Like once you reach 4 hours a day you ran out of stamina and your character goes to sleep for 12 hours.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/255875324342328","repostId":2394312732,"repostType":4,"repost":{"id":"2394312732","pubTimestamp":1703475364,"share":"https://ttm.financial/m/news/2394312732?lang=&edition=fundamental","pubTime":"2023-12-25 11:36","market":"us","language":"en","title":"China Is Softening Stance on Gaming After $80 Billion Rout","url":"https://stock-news.laohu8.com/highlight/detail?id=2394312732","media":"Bloomberg","summary":" -- China approved 105 domestic games on Monday, the latest indication that Beijing is softening its stance after its move to tighten industry restrictions led to a $80 billion rout last week.Manchester United Saga Ends With $1.3 Billion Ratcliffe Deal. Trump Tells Appeals Panel He Should Have ‘Absolute Immunity’。US Accuses Iran of Indian Ocean Attack as Shipping Threat Grows. Nigeria Seeks Control of Banks Linked to Ex Central Banker. Wall Street Learns That This Year, Nothing Beat Owning the S&P 500. Chinese officials rekindled fear that they will start another round of tech crackdowns after top gaming regulator National Press and Publication Administration announced on Friday new rules to limit the development of online games, including an unspecified cap on spending by adult players.“The latest events reflect the government’s desire for a larger, more diverse gaming landscape with innovative content of a higher quality but one without excessive monetization or ‘pay-to-win’ games,” ","content":"<html><head></head><body><ul style=\"\"><li><p>Beijing approves games, seeks feedback on new restrictions</p></li><li><p>Tencent and NetEase shares plunged on Friday on crackdown fear</p></li></ul><p>China approved 105 domestic games on Monday, the latest indication that Beijing is softening its stance after its move to tighten industry restrictions led to a $80 billion rout last week. </p><p>The titles included those operated by Tencent Holdings Ltd. and NetEase Inc., China’s two leading game publishers that have been pummeled by Beijing’s new rules. Monday’s approvals show the Chinese authorities support the development of online gaming, an industry association said in a post on WeChat republished by the official Xinhua news agency. </p><p>Chinese officials rekindled fear that they will start another round of tech crackdowns after top gaming regulator National Press and Publication Administration announced on Friday new rules to limit the development of online games, including an unspecified cap on spending by adult players. </p><p>Additional restrictions include a ban on rewards for frequent log-ins and forced player-duels, and even a prohibition on content that violates national security. </p><p>As Tencent and NetEase saw their market value plunge by tens of billions of dollars in Hong Kong on Friday, the NPPA announced during trading hours the approval of 40 imported gaming titles, including those operated by the two companies. The move did little to help restore investors’ confidence. </p><p>Several analysts including those from Citi also said shortly after the new restrictions came out that Tencent and NetEase should not be significantly affected, but that did not prevent the shares of both companies from tumbling in US trading. </p><p>The administration said on Saturday that it will listen to feedback from stakeholders including companies and players to improve the rules. </p><p>The sweeping restrictions, which caught industry players and investors off guard on the final trading day before Christmas, reminded many of the brutal tech-sector crackdown of 2021. That year, various agencies abruptly imposed curbs on sectors from e-commerce to entertainment, reining in Jack Ma-backed Ant Group Co. and Alibaba Group Holding Ltd. while decimating the online education industry by declaring profits illegal.</p><p>“The latest events reflect the government’s desire for a larger, more diverse gaming landscape with innovative content of a higher quality but one without excessive monetization or ‘pay-to-win’ games,” Yang Wenfeng, a senior vice president with Shanghai-based games studio Paper Games said. “The government prefers publishers to earn profits through fair practices and product innovation, rather than deepening monetization strategies.”</p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China Is Softening Stance on Gaming After $80 Billion Rout</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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Monday’s approvals show the Chinese authorities support the development of online gaming, an industry association said in a post on WeChat republished by the official Xinhua news agency. Chinese officials rekindled fear that they will start another round of tech crackdowns after top gaming regulator National Press and Publication Administration announced on Friday new rules to limit the development of online games, including an unspecified cap on spending by adult players. Additional restrictions include a ban on rewards for frequent log-ins and forced player-duels, and even a prohibition on content that violates national security. As Tencent and NetEase saw their market value plunge by tens of billions of dollars in Hong Kong on Friday, the NPPA announced during trading hours the approval of 40 imported gaming titles, including those operated by the two companies. The move did little to help restore investors’ confidence. Several analysts including those from Citi also said shortly after the new restrictions came out that Tencent and NetEase should not be significantly affected, but that did not prevent the shares of both companies from tumbling in US trading. The administration said on Saturday that it will listen to feedback from stakeholders including companies and players to improve the rules. The sweeping restrictions, which caught industry players and investors off guard on the final trading day before Christmas, reminded many of the brutal tech-sector crackdown of 2021. That year, various agencies abruptly imposed curbs on sectors from e-commerce to entertainment, reining in Jack Ma-backed Ant Group Co. and Alibaba Group Holding Ltd. while decimating the online education industry by declaring profits illegal.“The latest events reflect the government’s desire for a larger, more diverse gaming landscape with innovative content of a higher quality but one without excessive monetization or ‘pay-to-win’ games,” Yang Wenfeng, a senior vice president with Shanghai-based games studio Paper Games said. “The government prefers publishers to earn profits through fair practices and product innovation, rather than deepening monetization strategies.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":255896708645152,"gmtCreate":1703484939532,"gmtModify":1703484943789,"author":{"id":"3583784098194208","authorId":"3583784098194208","name":"melissa02q88","avatar":"https://static.itradeup.com/news/2064432b6beaf8ec4b6956334dcef871","vip":1,"crmLevel":2,"crmLevelSwitch":1,"idStr":"3583784098194208","authorIdStr":"3583784098194208"},"htmlText":"Wow nice","listText":"Wow nice","text":"Wow nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/255896708645152","repostId":2394312732,"repostType":2,"repost":{"id":"2394312732","pubTimestamp":1703475364,"share":"https://ttm.financial/m/news/2394312732?lang=&edition=fundamental","pubTime":"2023-12-25 11:36","market":"us","language":"en","title":"China Is Softening Stance on Gaming After $80 Billion Rout","url":"https://stock-news.laohu8.com/highlight/detail?id=2394312732","media":"Bloomberg","summary":" -- China approved 105 domestic games on Monday, the latest indication that Beijing is softening its stance after its move to tighten industry restrictions led to a $80 billion rout last week.Manchester United Saga Ends With $1.3 Billion Ratcliffe Deal. Trump Tells Appeals Panel He Should Have ‘Absolute Immunity’。US Accuses Iran of Indian Ocean Attack as Shipping Threat Grows. Nigeria Seeks Control of Banks Linked to Ex Central Banker. Wall Street Learns That This Year, Nothing Beat Owning the S&P 500. Chinese officials rekindled fear that they will start another round of tech crackdowns after top gaming regulator National Press and Publication Administration announced on Friday new rules to limit the development of online games, including an unspecified cap on spending by adult players.“The latest events reflect the government’s desire for a larger, more diverse gaming landscape with innovative content of a higher quality but one without excessive monetization or ‘pay-to-win’ games,” ","content":"<html><head></head><body><ul style=\"\"><li><p>Beijing approves games, seeks feedback on new restrictions</p></li><li><p>Tencent and NetEase shares plunged on Friday on crackdown fear</p></li></ul><p>China approved 105 domestic games on Monday, the latest indication that Beijing is softening its stance after its move to tighten industry restrictions led to a $80 billion rout last week. </p><p>The titles included those operated by Tencent Holdings Ltd. and NetEase Inc., China’s two leading game publishers that have been pummeled by Beijing’s new rules. Monday’s approvals show the Chinese authorities support the development of online gaming, an industry association said in a post on WeChat republished by the official Xinhua news agency. </p><p>Chinese officials rekindled fear that they will start another round of tech crackdowns after top gaming regulator National Press and Publication Administration announced on Friday new rules to limit the development of online games, including an unspecified cap on spending by adult players. </p><p>Additional restrictions include a ban on rewards for frequent log-ins and forced player-duels, and even a prohibition on content that violates national security. </p><p>As Tencent and NetEase saw their market value plunge by tens of billions of dollars in Hong Kong on Friday, the NPPA announced during trading hours the approval of 40 imported gaming titles, including those operated by the two companies. The move did little to help restore investors’ confidence. </p><p>Several analysts including those from Citi also said shortly after the new restrictions came out that Tencent and NetEase should not be significantly affected, but that did not prevent the shares of both companies from tumbling in US trading. </p><p>The administration said on Saturday that it will listen to feedback from stakeholders including companies and players to improve the rules. </p><p>The sweeping restrictions, which caught industry players and investors off guard on the final trading day before Christmas, reminded many of the brutal tech-sector crackdown of 2021. That year, various agencies abruptly imposed curbs on sectors from e-commerce to entertainment, reining in Jack Ma-backed Ant Group Co. and Alibaba Group Holding Ltd. while decimating the online education industry by declaring profits illegal.</p><p>“The latest events reflect the government’s desire for a larger, more diverse gaming landscape with innovative content of a higher quality but one without excessive monetization or ‘pay-to-win’ games,” Yang Wenfeng, a senior vice president with Shanghai-based games studio Paper Games said. “The government prefers publishers to earn profits through fair practices and product innovation, rather than deepening monetization strategies.”</p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China Is Softening Stance on Gaming After $80 Billion Rout</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina Is Softening Stance on Gaming After $80 Billion Rout\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-12-25 11:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/china-softening-stance-gaming-80-020647067.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Beijing approves games, seeks feedback on new restrictionsTencent and NetEase shares plunged on Friday on crackdown fearChina approved 105 domestic games on Monday, the latest indication that Beijing ...</p>\n\n<a href=\"https://finance.yahoo.com/news/china-softening-stance-gaming-80-020647067.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0072913022.USD":"UBS (LUX) EQUITY FUND -  GREATER CHINA \"P\" (USD) ACC","NTES":"网易","BK4577":"网络游戏","BK4501":"段永平概念","LU0067412154.USD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (USD) ACC","09999":"网易-S","BK4526":"热门中概股","BK4588":"碎股","BK4503":"景林资产持仓","BK4505":"高瓴资本持仓","00700":"腾讯控股","BK4085":"互动家庭娱乐","BK4514":"搜索引擎","BK4548":"巴美列捷福持仓","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","LU1807302812.USD":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (USD) ACC","BK4532":"文艺复兴科技持仓","BK4531":"中概回港概念","LU0501845795.SGD":"瑞银大中华区股票基金P Acc SGD","BK4585":"ETF&股票定投概念","TCEHY":"腾讯控股ADR"},"source_url":"https://finance.yahoo.com/news/china-softening-stance-gaming-80-020647067.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2394312732","content_text":"Beijing approves games, seeks feedback on new restrictionsTencent and NetEase shares plunged on Friday on crackdown fearChina approved 105 domestic games on Monday, the latest indication that Beijing is softening its stance after its move to tighten industry restrictions led to a $80 billion rout last week. The titles included those operated by Tencent Holdings Ltd. and NetEase Inc., China’s two leading game publishers that have been pummeled by Beijing’s new rules. Monday’s approvals show the Chinese authorities support the development of online gaming, an industry association said in a post on WeChat republished by the official Xinhua news agency. Chinese officials rekindled fear that they will start another round of tech crackdowns after top gaming regulator National Press and Publication Administration announced on Friday new rules to limit the development of online games, including an unspecified cap on spending by adult players. Additional restrictions include a ban on rewards for frequent log-ins and forced player-duels, and even a prohibition on content that violates national security. As Tencent and NetEase saw their market value plunge by tens of billions of dollars in Hong Kong on Friday, the NPPA announced during trading hours the approval of 40 imported gaming titles, including those operated by the two companies. The move did little to help restore investors’ confidence. Several analysts including those from Citi also said shortly after the new restrictions came out that Tencent and NetEase should not be significantly affected, but that did not prevent the shares of both companies from tumbling in US trading. The administration said on Saturday that it will listen to feedback from stakeholders including companies and players to improve the rules. The sweeping restrictions, which caught industry players and investors off guard on the final trading day before Christmas, reminded many of the brutal tech-sector crackdown of 2021. That year, various agencies abruptly imposed curbs on sectors from e-commerce to entertainment, reining in Jack Ma-backed Ant Group Co. and Alibaba Group Holding Ltd. while decimating the online education industry by declaring profits illegal.“The latest events reflect the government’s desire for a larger, more diverse gaming landscape with innovative content of a higher quality but one without excessive monetization or ‘pay-to-win’ games,” Yang Wenfeng, a senior vice president with Shanghai-based games studio Paper Games said. “The government prefers publishers to earn profits through fair practices and product innovation, rather than deepening monetization strategies.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":21,"commentSize":2,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}