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End tax breaks for gaming firms, says Chinese state media | The Freeman

August 6, 2021
Source: philstar.com philstar.com
News Snapshot:
China should end tax breaks for gaming companies as they have grown into global firms, a state-backed newspaper said Thursday, in the latest threat to the multi-billion sector to drift out through state-controlled media. The online gaming industry, which made revenue of 130 billion yuan ($20 billion) in the first half of this year, has been the subject of several menacing state media reports in recent days, with one article labelling such games "spiritual opium". The negative headlines have fuelled concerns the sector is next in line for the regulatory axe, which has cut into large tech firms from e-commerce...
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