[Technology] Tencent and Chinese video game companies shook to call state media “spiritual opium” (updated: original report changed) Updated at 23:20 GMT: Following the original news article by Xinhua News Agency, the inventory of most video game companies in China plummeted.This was clearly not what Beijing was pleased with, but earlier today (I was working!) It was revealed by [South China Morning Post](//www.scmp.com/tech/policy/article/3143625/chinese-newspaper-deletes-report-called-video-gaming-spiritual-opium) The original story (discussed below) was deleted, and then many key comments were deleted and re-uploaded. Especially removed was to call the game “spiritual opium”. “This report certainly does not represent an official position,” a source who remained anonymous because he was not authorized to speak to the press told the South China Morning Post. The companies mentioned in the original text improved in the first plunge that began that day, eventually falling by 5-7%. original: Today is Tencent ( [HKG: 0700](//www.google.com/finance?q=HKG:0700) ), NetEase ( [HKG: 9999](//www.google.com/finance?q=HKG:9999) ), Perfect World ( [SHE: 002624](//www.google.com/finance?q=SHE:002624) ), And was further shaken by the sharp fall in stock prices. In response to the Xinhua News Agency’s (state-owned media) publication, Economic Information, it raises the issue of addiction to video games and compares it to “electronic drugs” and “mental opium.” .. (Source at the bottom of the page, this work also includes opinions). Tencent and other gaming companies-emergency? Tencent is the largest video game company in the world. Let’s sink it first. There is no doubt for a moment that some people knew that fact.Still, until the news of buying full ownership, or some of the companies [Sumo Digital](//wccftech.com/tencent-to-buy-sumo-digital-for-919-million/) , [Stan Rock Studio](//wccftech.com/tencent-acquires-majority-stake-in-stunlock-studios-battlerite/) , [Clay entertainment](//wccftech.com/dont-starve-mark-of-the-ninja-klei-entertainment-acquired-by-tencent/) , [Funcom](//wccftech.com/tencent-offers-to-fully-acquire-funcom-scope-of-dune-survival-game-to-be-increased/) , Epic Games, etc. The idea then is that the company is dead or people are claiming to no longer play the game. Forget that Tencent owns all or part of Activision Blizzard, only they do ( [NASDAQ: ATVI](//www.google.com/finance?q=NASDAQ:ATVI) ), Ubisoft ( [EPA: UBI](//www.google.com/finance?q=EPA:UBI) ), Paradox Interactive, Riot Games, Frontier Developments, Funcom, Discord, etc. So Tencent is so popular that this is not a state of emergency. Other companies should have undeniable concerns. Recent news articles in China show that Beijing is still looking at the tech and video game sectors, and despite its commitment to alternatives, regulation is always imminent. This can have a significant impact on the bottom line of these companies and cause serious problems, and due to international expansion, only the largest are relatively isolated. However, it should be pointed out that companies outside of China should be concerned from a financial perspective. Further restrictions and regulations may further limit the number of video games that can be published. Many of these games are protected from publication by some owners such as Tencent and NetEase. China has already set a time cap for people under the age of 18, up to 90 minutes a day on weekdays and 3 hours on Saturdays or Sundays, with age limits on how much these players can spend in-game. Has been done. .. National onslaught and image nightmare If you don’t know much about history, it’s a good time to read about [Opium War](//www.britannica.com/topic/Opium-Wars) .. Given the lines used by the Chinese mass media and the perceptions this brings to hundreds of millions of people, that’s appropriate. Shrinking this long and horrifying history page, the Opium War was two periods in which the British Empire (and France in World War II) fought to import and poison the entire population into opium. Electronic Information Daily ArticlesAs reported by SCMP and FT), There was considerable dissatisfaction with internet addiction, and there was a statement that video games are “hundreds of billions of worthy spiritual opium” and “cannot develop in a way that destroys generations.” .. Other concerns may come as old news to Westerners who have heard many of Jack Thompson’s whining and other concerns and criticisms from the media. These concerns blame the game for being overly spoiled because of its short-sighted and poor academic performance. This is a harsh memory for companies that regulators are paying attention to, especially those in countries where the video game market is worth a staggering $ 43.1 billion (according to research firms). [Nico Partners](//nikopartners.com/) ). Let me tell you now at the risk of numerous (wrong) bleeding of the “socialist” or “communist” I support A few Of these actions by Beijing. Specifically, I can’t compete with the company because of the many predatory actions taken- [My Pokemon Unite review from yesterday is a prime example](//wccftech.com/review/pokemon-unite-review/) -And I don’t agree if the government limits these plunders and exactly how much the company and its games can lure someone into spending. Do you agree with all actions taken? There is no god. Do you think you need to protect consumers? that’s right. Would this world be a better place if all governments regulated in-game spending and began to criticize the predatory behavior of video games such as FIFA, Overwatch and Pokemon Unite? Yes, that would be a better place. The industry will also be a better place. Best of all, children aren’t tempted to gamble by companies that don’t seem to care about welfare other than revenue, no matter who they hurt along the way (staff or consumers). That’s the focus of this piece, but it’s also worth noting that it’s a lot bigger than a video game. The vast scope of the technology industry in China violates the same regulations and is sometimes subject to strict surveillance and interference. Tencent recently had to block new user registrations in the WeChat app while complying with the new law. There is also great turmoil in other industries, such as the education sector. Overall, it’s difficult to sell shares abroad right away, as Beijing has repeatedly expressed its intention to strengthen its scrutiny of foreign-listed companies in the wake of Didi’s overseas listing controversy. Maybe. In line with video games, this could result in increased periods of instability and domestic revenue for companies that rely on the Chinese market. However, while big companies like Tencent will be hit, it won’t be a pain as external investment is not directly affected by Beijing. Does this affect the earnings of Western countries and their titles within China? Probably because the console and premium PC title sectors are starting to take off, especially if Beijing is more keenly aware of looting beyond mobile titles. source: [Josh Ye](//twitter.com/TheRealJoshYe/status/1422382642540908548) , [South China Morning Post](//www.scmp.com/business/markets/article/3143587/hong-kong-stocks-skid-new-attack-sends-tencent-netease-tumbling) When [Financial Times](//www.ft.com/content/1ee4f40b-cad8-45f7-b8dd-de25b89736d3) .. https://wccftech.com/chinese-video-games-companies-rocked-spiritual-opium/ Tencent and Chinese video game companies shook to call state media “spiritual opium” (updated: original report changed)