The logo of China's Tencent Music Entertainment Group is seen next to an earphone in this illustration picture taken March 22 2021. Picture: REUTERS/FLORENCE LO
The publicity department of the Communist Party of China’s Central Committee, the National Press and Publication Administration and two other agencies called the meeting to convey plans to step up supervision and start checks on illegal behaviour, according to the state-run Xinhua News Agency. The government just last week released new regulations for the industry, including limiting the amount of time children can play video games to three hours a week.
Chinese gaming stocks listed in the US tumbled, with Bilibili sliding 5.9%. The Nasdaq Golden Dragon China Index slumped 3.3%. NetEase said it will comply with anti-addiction regulations and promote more quality games for minors.
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