China slows approval of new online games – SCMP

Sept. 9 (Reuters) – China has temporarily slowed down approval of all new online games in an effort to reduce gambling addiction among young people, the South China Morning Post reported Thursday, citing people with knowledge of the matter.

The SCMP said the strategy to slow down approvals emerged after a meeting Wednesday between Chinese authorities and gaming companies, including Tencent Holdings Ltd (0700.HK) and NetEase Inc (9999.HK).

Beijing had summoned game companies like Tencent and NetEase on Wednesday. Read more

Tencent declined to comment. NetEase did not immediately respond to Reuters’ request for comment.

China decided in August to ban people under 18 from playing video games for more than three hours a week, saying it was necessary to tackle a growing addiction to what it once called “spiritual opium. “. Read more

China has waged a broad crackdown in a wide range of sectors, including technology, education and real estate, to strengthen government control after years of soaring growth. Read more

(This story has been corrected to say that China “slows down” approvals, not “suspended” in the title and paragraphs 1 and 2 after the SCMP clarified. Also corrects paragraph 2 to say that the strategy of the China emerged after a meeting and not during the meeting)

Reporting by Anirudh Saligrama in Bengaluru Editing by Raissa Kasolowsky and John Stonestreet

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