plunged on Tuesday after Chinese state media branded online gaming "opium" and likened it to a drug.
Tencent fell around 10% in morning while NetEase was almost 14% lower in Hong Kong. Tencent is one of the world's largest gaming companies responsible for high-profile games like "Honor of Kings.", by Economic Information Daily, a Chinese state-run publication that's affiliated to the official Xinhua newspaper, said that online gaming addiction among children is "widespread" and could negatively impact their growth.
The sentiment in the article is not that new. For a long time, the Chinese government has been concerned about the impact of video games on minors.over concerns that gaming was impacting youngsters' eyesight. In China, online games require approvals from the regulators.
What the hell is wrong with over there? They’re going to destroy progress and people will resent their behavior
But they’re not wrong 🤔
Tencent has been implementing anti-addiction systems since 2017 and children under 16 revenue only represent 3.2% of total gaming revenue.
You know what this means… buy $GME
His highness is destroying the country's jewel by himself.
So yeah, Chinese children are developing nearsightedness because of gaming and online no way because of crazy studying they have to do year round and late into the night. No, it must be the games.
Sounds bullish to me.
The Chinese government is correct on this. The 'opium' ruined his life and his family. Later like alcoholism it took his life. The winners are few
Jenlovescrypto Lmao
Opium sells
good
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