Tencent Games: CN Govt Draft on New Online Game Rules Does Not Fundamentally Change Key Elements of Game Biz Model
China's National Press and Publication Administration (NPPA) is pooling comments on draft regulations for online games, which include measures to protect minors.
Zhang Wei, vice president of Tencent Games, a subsidiary of TENCENT, responded that Tencent has been strictly implementing the management requirements since the release of the new regulations on the protection of minors in 2021, and that the game hours and consumption data of underage users are now at the lowest level on record.
He pointed out that the draft of the new regulations does not fundamentally change the key elements of the game's business model and operation rhythm of Tencent.
He believed that the release of the draft of the new regulations by the authorities to fully solicit opinions from the industry and the society will be more conducive to the orderly and healthy development of the game industry.
He emphasized that Tencent Games will continue to adhere to the high-quality product strategy of technological innovation and cultural leadership, and will implement the high-quality development of the game industry of China under the support of the competent authorities.
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patricklowck123 : When situation are starting to turn positive, such a news really shouldnt surface out so suddenly...investors mind is still clicked onto the tech crackdown that happened before..the domino effects can be very scary...its no wrong that china government want to improve but they can talk to business owner to let them know what they really want instead of suddenly come out news that shake up confidence..no logic investors will place money onto something that had absolute no predictibility and can be decimated at any time irregardless of the business fundemental ....if china government really want their stock market to flourish such issues must be taken into consideration which is most important..
知的なアビー_2892 patricklowck123 : There are many factors that drive the growth of the stock market. I think the last thing the Chinese government wants to do is use games to drive the stock market.Besides, whether in China or abroad, especially in the entertainment industry and games, there are few that rise steadily, most of them either rise sharply or plummet.
consideratedesQue : yeh ymgov needs to engage stakeholders of all education service providers, fintech people, property people, banks before barking off half baked regulations and then backtracking, it shows indecisive action