End profit focus, China’s gaming firms instructedBloombergChinese regulators summoned gaming companies including Tencent Holdings Ltd (騰訊) and Netease Inc (網易) to discuss further oversight of the industry and the need to de-emphasize profits, prompting a steep share selloff. The agencies told the companies they must enforce the new regulations and break from “the solitary focus of pursuing profit” to prevent minors from becoming addicted to games. They should also remove “obscene and violent content” and avoid “unhealthy tendencies, such as money-worship and effeminacy.”“The authorities ordered the enterprises and platforms to tighten examination of the contents of their games,” Xinhua said. However, Xinhua made no mention of suspending gaming approvals in its reports. China in 2018 froze approvals on game monetization licenses for months, in part to combat addiction and myopia among children.

Source: Taipei Times September 09, 2021 15:56 UTC