Hong Kong stocks on Tuesday (3rd) afternoon, the decline of Hong Kong game stocks quickly narrowed, Tencent Holdings (0700-HK) fell to 6.11%, NetEase (9999-HK) fell to 6.32%, Bilibili (9626-HK) The decline narrowed to 5.39%.
On the news, this afternoon, the Economic Information Daily’s official website and subscription account have deleted articles criticizing online games as “spiritual opium.”
This morning, the Chinese state-run Xinhua News Agency’s Economic Reference News reported that the harm of online games to society has been recognized by the public, and “mental opium” and “electronic drugs” are often used to represent online games. Excessive indulgence in online games has a dual negative impact on the physiology and psychology of minors.
The publication of the article triggered a regulatory game industry association, and all relevant Hong Kong stock game concept stocks plummeted, with a decline close to or more than double digits.
Just as related articles were taken off the shelves, Tencent issued a statement that it will take new measures to reduce minors’ access to and time spent on its “Honor of Kings” game, and will adopt the plan in other games.
Tencent pointed out that, in order to further increase protection, Tencent will gradually launch seven new measures of “double reduction, double play, and triple advocacy” for all games from the pilot of “Glory of the King”.
The physical measures include the implementation of stricter restrictions on the online time of minor users than the policy requirements, the reduction of non-holidays from 1.5 hours to 1 hour, and the reduction of holidays from 3 hours to 2 hours. In addition, minors under the age of 12 will be prohibited from spending in the game.