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Tencent bounces back after state media soften tone on gaming

Bloomberg
Bloomberg8/4/2021 8:30 PM GMT+08  • 3 min read
Tencent bounces back after state media soften tone on gaming
People’s Daily stressed the need for government, schools, families and society to work together.
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Chinese media including the Communist Party’s flagship newspaper toned down their criticism of the games industry on Wednesday, Aug 4, helping Tencent Holdings Ltd. and its peers recoup some of their losses from a market rout a day earlier.

Instead of calling video games “spiritual opium,” as a Tuesday article in the Economic Information Daily had, the People’s Daily published an editorial in its overseas edition that stressed the need for government, schools, families and society to work together to better protect children from excessive gaming. Controlled by the Party’s Central Committee, its positions on issues are widely seen as reflecting the views of China’s most senior leaders.

Hu Xijin, editor of the government-controlled Global Times, commented on his WeChat account that the Economic Information Daily article was a “normal” news story but its timing led to “over-interpretation” by some. The latest regulatory measures are aimed at directing the healthy development of the internet and tech sectors, and companies should actively cooperate, Hu wrote. Gaming addiction is a serious issue but resolving it requires comprehensive measures, he said.

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