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In the U.S., critics have long complained about the addictive nature of video games, prompting concerned parents to limit their children's playing time.Ĭhinese regulators said in Monday's notice that they would strengthen supervision and increase the frequency of inspections of online game companies to ensure that they follow the regulations closely.Ĭhinese authorities in recent months have targeted ecommerce and online education, and have implemented new regulations to curb anti-competitive behavior after years of rapid growth in the technology sector. The company issued the curbs hours after a state-affiliated newspaper, Economic Information Daily, criticized the gaming industry and called games "spiritual opium." Tencent's stock price plunged as much as 11% soon after. The gaming restrictions are part of the Chinese government's ongoing crackdown on domestic tech companies amid concerns that such businesses - many of which provide ubiquitous messaging, payments and gaming services - have an outsized influence on society.Įarlier this month, Tencent said it would limit gaming time for minors to an hour a day and two hours during holidays, as well as ban children under the age of 12 from making in-game purchases. New York-listed NetEase's stock was down about 9% at the market's open. China's new regulation affects some of China's largest technology companies, including gaming giant Tencent.

Honor of Kings exhibition at the World Artificial Intelligence Conference 2021 in Shanghai. Its market capitalization of $573 billion is down more than $300 billion from its February peak, a decline equal to more than the total value of Nike or Pfizer. Tencent's stock price closed down 0.6% at 465.80 Hong Kong dollars on Monday ahead of the regulator's announcement. 'Mechs, Hero Add-ons, or Reinforcement Add-ons.The new regulation affects some of China's largest technology companies, including gaming giant Tencent whose Honor of Kings online multiplayer game is hugely popular globally, as well as gaming company NetEase. Or a combination of any 6 Wave 1, Wave 2, IIC Clan Hero ** Eligible combinations: At least two Collector Packs from any Man-O-War Collection Wave 3 Gladiator Collection Origins IIC HighlanderĬollection.

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