China will forbid minors from gaming more than three hours most weeks of the year, imposing their strictest controls yet over entertainment for youths in a blow to the world’s largest mobile gaming arena. From a report: Gaming platforms from Tencent to NetEase can henceforth only offer online gaming to minors from 8 p.m. to 9 p.m. on Fridays, weekends and public holidays, state news agency Xinhua reported, citing a notice by the National Press and Publication Administration. The new rules, which limit teen playing time to three hours most weeks of the year, is a major step-up from a previous restriction set in 2019 of 1.5 hours per day, most days.
The escalating restrictions on Tencent’s biggest business are likely to spook investors that had cautiously returned to Chinese stocks in recent days, exploring bargains after a raft of regulatory probes into areas from online commerce to data security and ride-hailing ignited a trillion-dollar selloff in past weeks. “Three hours per week is too tight. Such a policy will have negative impact on Tencent too,” Steven Leung, an executive director at UOB Kay Hian (Hong Kong) said. “I thought regulatory measures would take a break gradually but it’s not stopping at all. It will hurt the nascent tech rebound for sure.”
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