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Skillz CEO on the rise of mobile gaming
China will soon limit underage online gaming to just three hours a typical week in an effort to curb video game addiction among its young people, its government said on Monday.
The new decrees prohibit anyone under the age of 18 from playing video games at any time outside of 8 p.m. to 9 p.m. on Fridays, Saturdays, Sundays and public holidays. Online games will also need to connect through a government-run “anti-addiction” system under regulations that go into effect Wednesday, the Wall Street Journal reported. Users must use their real names and government issued documents to identify themselves on the sites.
Under previous rules released in 2019, the Chinese Communist Party banned children from playing video games between 10 p.m. and 8 a.m. on weekdays with a 90-minute time limit, allowing three hours on weekends. There are also restrictions on the amount of money young people are allowed to spend on in-game purchases.
SEC CHAIR ON THE CRYPTO-CURRENCIES IN CHINA
Chinese President Xi Jinping applauds during the closing session of the Chinese People’s Political Consultative Conference at the Great Hall of the People in Beijing on Wednesday, March 10, 2021. ((AP Photo / Mark Schiefelbein))
The CCP said parents called for increased restrictions on games for young people, fearing that the addition of games would harm children’s education and health.
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| Teleprinter | Security | Last | Switch | Switch % |
|---|---|---|---|---|
| TCEHY | TENCENT HOLDINGS LTD. | 58.31 | -0.65 | -1.10% |
| RBLX | ROBLOX CORP. | 81.87 | -3.53 | -4.13% |
| ATVI | ACTIVISION BLIZZARD, INC. | 81.12 | -1.31 | -1.59% |
China’s latest move isn’t just cracking down on children’s play time, it is also targeting Chinese game companies in one of the world’s largest gaming markets.
Tencent Holdings Ltd. – the world’s largest games company by revenue – has seen its shares take a hit in the wake of the news, as have other Chinese game companies Roblox and Activision Blizzard.
Daniel Ahmad, a senior analyst who tracks the Chinese video game market for Niko Partners, told the Journal that the new rules appeared to only apply to online games. But it still means success for game publishers.
“This decision is certainly extremely harsh and will essentially wipe out most of the expenses for minors,” he said.
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