Home Ā» China re-changes its mind on video games (and Tencent rebounds on the stock market)

China re-changes its mind on video games (and Tencent rebounds on the stock market)

by admin

First they are defined as spiritual opium and then more mildly a problem that the world will have to deal with. The Chinese Communist Party’s war on video games lasted less than 48 hours. It all starts on Tuesday when the main CCP newspaper publishes an article defining video games as “spiritual opium” with a detrimental effect on teenagers. According to what was written by the “Economic Information Daily” of the official Chinese news agency Xinhua, Chinese young people would spend up to 8 hours a day attached to video games.

Among the titles mentioned also Honor or King, the most popular game in China, developed and produced by Tencent. The criticism drags down the Chinese video game giants Tencent and NetEase which in a few hours lose 10% on the Hong Kong stock exchange. In particular, Tencent, in addition to being the publisher of Honor of King, is one of the most prosperous Chinese companies and is the owner of Riot Games (developer of League of Legends and Valorant). The day after a partial reverse that helps to partially recover the losses. After calling them electronic drugs, Hu Xijin, editor of the government-controlled Global Times, commented on his WeChat account that the Economic Information Daily article was “normal” news, but its timing led to “an interpretation. excessive “.

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The bottom line is that gambling addiction, he wrote, is a serious problem, but solving it requires global measures. “I can’t imagine the authorities simply banning online games once and for all,” Hu wrote. This last sentence has perhaps given breath to the gaming titles.

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