Sept. 9 (Reuters) – China temporarily slowed down approval of all new online games in a bid to tackle gambling addiction among young people, according to the South China Morning Post reported Thursday citing people familiar with the subject.
The SCMP said the strategy to slow down approvals emerged after a meeting Wednesday between Chinese authorities and gaming companies, including Tencent Holdings Ltd (0700.HK) and NetEase Inc (9999.HK).
Beijing had summoned game companies like Tencent and NetEase on Wednesday. Read more
Tencent declined to comment. NetEase did not immediately respond to Reuters’ request for comment.
China decided in August to ban people under 18 from playing video games for more than three hours a week, saying it was necessary to tackle a growing addiction to what it once called “spiritual opium. “. Read more
China has waged a massive crackdown on a wide range of sectors, including technology, education and real estate, to strengthen government control after years of soaring growth. Read more
(This story has been corrected to say that China “slows down” approvals, not “suspended” in the title and paragraphs 1 and 2 after the SCMP clarified. Also corrects paragraph 2 to say that the strategy of the China emerged after a meeting and not during the meeting)
Reporting by Anirudh Saligrama in Bengaluru Editing by Raissa Kasolowsky and John Stonestreet
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