Investors captured the signal that the government was re -considering the proposed online game management measures, and the stock price of China video game company rebounded on Wednesday.
Last Friday, the stock price of the two largest video game companies Tencent and NetEase plummeted, and regulators have been trying to stabilize the stock market since weekends.
When the stock market resumed transactions after the four -day holiday on weekends in Hong Kong, Tencent's stock price rose by about 4%, NetEase's stock price rose 12%, recovering some lost land.
What happened in the past few days highlighted the push -pulling power that affects China's decision -making.China's highest leadership acknowledged that they need to stabilize the economy. After being influenced by almost comprehensive control during the new crown virus, the Chinese economy resumed slowly.However, the government's strict control of corporate operation methods continues to bring uncertainty to the stock market.
Last Friday, the National Press and Publication Office, which is responsible for issuing licenses to Chinese game distributors and regulating the video game industry, announced the management measures (draft) of online game (draft), which aims to limit people to spend on the game.money.The draft was unexpected by the industry, and investors sold tens of billions of dollars of corporate stocks.
The regulatory agency issued a statement on Saturday that the management measures were emphasized to "guarantee and promote the prosperity and healthy development of the online game industry", and said that "the process of public opinion and regulations to publicly soliciting opinions from the society is a process of listening to opinions more extensively and improving rules and terms."
Subsequently, the Press and Publication Agency approved 40 new online games on Friday and announced on Monday that the release of 100 new games was approved on Monday.A semi -official association under the agency said that the approval of these games is the "positive signal" of the Press and Publication Department to support the online game industry.
The draft management method Draft sets the upper limit for how much users can spend in the game, such as the cost of upgrading the function of the character, or the cost of buying virtual weapons or other items.The management method will also prohibit the company from attracting players to continue playing games with inductive rewards.However, the draft does not clearly specify the upper limit of consumption.
"The draft management measures will inevitably lead to changes in the current approach and potential short -term income loss," said Lei Xiao, assistant professor at the University of Hong Kong Business School.
But he added that the impact of the management measures may not be as great as people are worried, because the authorities may adjust or cancel some regulations during their implementation.He also said that consumers' needs for games and social communication brought by games to players will not be affected.
Analysts of Nomura Bank in Japan said in a report on Tuesday that these management measures may "weaken to a considerable extent" the ability to make money by Chinese video game companies.
Nomura Securities also said that the "fire extinguishing measure" launched by the government since Friday will alleviate investors' concerns, but it will not eliminate its shadow it brings to the Chinese video game industry.
The industry is still influenced by the first restrictive measures launched in 2019. The purpose of the government takes this measure is to solve the problem of online game addiction it considers.The impact of extensive strikes.The restrictions of regulatory agencies also include not issuing any new game licenses in eight months before April 2022.
As far as the company is concerned, Tencent and NetEase have faded the impact of the proposed management measures.
Zhang Weige, the vice president of Tencent, said in a statement in a statement on Friday that the draft management measures did not "fundamentally change the business model, operating rhythm or other key elements of online games."Netease said on weekends that the management measures will not have any substantial impact on its business, and adding it to share the opinions of the company's draft with the authorities.
The Press and Publication Department stated that the deadline for listening to opinions is January 22 next year.
John Liu reports Chinese and scientific and technological news in the Times, mainly paying attention to the interaction between politics and technology supply chains.He stayed in Seoul.Click to view more information about him.
Translation: Cindy hao
