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China warns gaming firms could lose tax breaks in latest threat to the multi-billion sector

August 5, 2021
Source: bureaucracybuzz.com bureaucracybuzz.com
News Snapshot:
China should end tax breaks for gaming companies as they have grown into global firms, a regime-backed newspaper said today in the latest threat to the multi-billion dollar sector. The gaming industry, which raked in 130 billion yuan ($20 billion) in the first half of this year, was earlier this week accused of feeding ‘spiritual opium’ to children, turning them into screen zombies who are unable to work. The Communist Party’s volley of propaganda appears to be laying the groundwork for a crackdown on the sector, linked to its broader regulatory assault on big tech. Jack Ma, China’s answer to...
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