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China tells Tencent, Netease to end focus on profit in games

Bloomberg
Bloomberg9/9/2021 09:53 AM GMT+08  • 3 min read
China tells Tencent, Netease to end focus on profit in games
We appreciate the guidance and instruction from the relevant regulators, says Tencent
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Chinese regulators summoned gaming companies including Tencent Holdings and Netease Inc to discuss further oversight of the industry and the need to deemphasize profits, prompting a slide in share prices.

The Publicity Department of the Communist Party of China’s Central Committee, the National Press and Publication Administration and two other agencies called the meeting to convey plans to step up supervision and start checks on illegal behaviour, according to the state-run Xinhua News Agency.

The government just last week released new regulations for the industry, including limiting the amount of time children can play video games to just three hours a week.

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