By THE HILL
Published on December 12, 2023
HONG KONG (AP) — China released draft guidelines Friday aimed at curbing excessive spending on online gaming in the latest move by the ruling Communist Party to keep control of the virtual economy.
The proposal caused shares in the biggest Chinese gaming companies, Tencent and NetEase, to plunge in Hong Kong.
China’s gaming regulator, the National Press and Publication Administration, issued guidelines saying online games cannot offer incentives for daily log-ins or purchases. Other restrictions include limiting how much users can recharge and issuing warnings for “irrational consumption behavior.”