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Accusations of "spiritual opium" sent shares of the China multinational technology group Tencent and other companies in the gaming industry tumbling on Tuesday amid fears a new regulatory chapter was about to begin.
The losses came after an article in the Economic Information Daily, which has links to China's state-controlled news agency, Xinhua, said the gaming industry, especially Tencent, was harming the nation's teens, according to media reports.
While the South China Morning Post subsequently reported the story has been taken down, investors were rattled by fears that yet another regulatory crackdown could be coming. That's even as the South China Morning Post pointed out the article didn't appear to represent Beijing's position on that industry, noting positive comments from an official recently.
See also: Tencent & Chinese Video Games Companies Rocked as State Media Calls Gaming "Spiritual Opium"
Related: No Cults, No Politics, No Ghouls: How China Censors the Video Game World
(Score: 2) by takyon on Tuesday August 03 2021, @03:34PM (1 child)
Spiritual and physical opium for the West!
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: -1, Flamebait) by Anonymous Coward on Tuesday August 03 2021, @04:33PM
The Chinese have never been known to leave slights unavenged...