Home Business New tumbles on the Hong Kong stock exchange, Tencent and NetEase KO after Beijing warnings on videogame restrictions for children

New tumbles on the Hong Kong stock exchange, Tencent and NetEase KO after Beijing warnings on videogame restrictions for children

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Stocks Tencent, Netease and others of Chinese companies active in the video game industry fell sharply on the Hong Kong stock exchange.

The quotations reflect the summons of the leaders of the related giants by the Beijing regulators, who have warned that any violation of the rules on the times in which children can play video games online “will be seriously addressed”.

Tencent collapses by more than 6% on the Hong Kong stock exchange, while NetEase falls by more than 7%.

At the end of August, the Beijing authority responsible for the control and regulation of the publishing, communications and Internet sector, the National Press and Publication Administration, published new rules that set the maximum number of hours in which the children and under 18 can play video games online.

Not only that: the hours in which to play have also been established.

According to the translation of the text published on the national agency’s website, minors under 18 will have access to video games for one hour a day between 8pm and 9pm on Fridays and weekends and on national holidays.

The implementation of the rules will take place through the hi-tech giants that offer the services of online games,
just like Tencent and NetEase. Who were today, in fact, warned of the consequences they will incur in cases in which they will not be able to guarantee the application of the limits.

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