China’s regulatory body has pledged a thorough examination of public concerns regarding the draft video gaming regulations. Emphasizing their intent to foster a healthier industry, officials revealed plans to refine the proposed rules following a diligent review of public feedback.
The press and publications watchdog released a statement in response to China’s recent unveiling of extensive regulations targeting expenditure and time devoted to video games. This move caused a significant market reaction, impacting the value of major gaming entities like Tencent Holdings (0700.HK) and Netease (9999.HK).
Among the proposed measures, the draft rules aim to eliminate rewards for daily logins, initial spending, and consecutive spending in online games—standard incentives prevalent in the industry.
Highlighting the objective of ensuring the online gaming sector’s well-being and growth, the National Press and Publication Administration affirmed the rules’ role in safeguarding industry prosperity.
Acknowledging the broad spectrum of opinions gathered during the rule-making process, the regulator described the solicitation of public views as a mechanism for inclusive feedback and enhancing rule provisions.
In response to public unease, the regulator committed to meticulously examining expressed concerns and viewpoints. They expressed readiness to revise the rules by incorporating inputs from pertinent government bodies, businesses, and users.
To curb excessive spending, the draft rules mandate limitations on digital wallet top-ups for in-game purchases. Additionally, the regulations aim to prohibit gaming practices that fuel speculation or auctions of virtual gaming items.