{"id":314935,"date":"2021-08-03T21:48:53","date_gmt":"2021-08-03T18:48:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/chinese-state-media-calls-gaming-opium-slamming-stocks\/"},"modified":"2021-08-03T21:48:53","modified_gmt":"2021-08-03T18:48:53","slug":"chinese-state-media-calls-gaming-opium-slamming-stocks","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/chinese-state-media-calls-gaming-opium-slamming-stocks\/","title":{"rendered":"#Chinese state media calls gaming ‘opium,’ slamming stocks"},"content":{"rendered":"

“#Chinese state media<\/a> calls gaming ‘opium,’ slamming stocks<\/strong>”<\/p>\n

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Chinese state media on Tuesday slammed online game<\/a>s as \u201cspiritual opium,\u201d sending stocks of the country\u2019s largest video game company tumbling.<\/p>\n

Economic Information Daily \u2014 a news<\/a>paper affiliated with China\u2019s biggest state news agency, Xinhua \u2014 made the provocative comparison in an article in which it said young people in China were addicted to online games and called for a crackdown on the industry.<\/p>\n

The story specifically called out \u201cHonor of Kings,\u201d a popular online game created by Tencent, the country\u2019s largest video game developer.<\/p>\n

\u201c\u2018Spiritual\u00a0opium\u2019 has grown into an industry worth hundreds of billions,\u201d the newspaper wrote. \u201dNo industry, no sport, can be allowed to develop in a way that will destroy a generation.\u201d<\/p>\n

Shortly after the article was published, Tencent shares dipped more than 10 percent in trading before markets opened and were down 7.4 percent early Tuesday afternoon.<\/p>\n

\"Tencent's
Tencent called for an industry-wide ban on gaming for children under 12 years old. <\/figcaption>
Barcroft Media via Getty Images<\/span><\/figcaption><\/figure>\n

The company\u2019s stock has plummeted nearly 40 percent over the past six months amid investor fears about the Chinese government\u2019s broader crackdown on tech, which has also slammed companies like Alibaba and Didi.<\/p>\n

Shares of US video game maker Activision Blizzard also fell about 5 percent Tuesday, although that move may have been more related to investor concerns about the company\u2019s internal turmoil over sexual harassment allegations than access to the Chinese gaming market.<\/p>\n

As Tencent\u2019s shares were tanking, the company said it would further curb minors\u2019 access to Honor of Kings and called for an industry-wide ban on gaming for children under 12 years old.<\/p>\n

\"A
It is still relatively easy for Chinese children to access online games because they can lie about their age. <\/figcaption>
Visual China Group via Getty Ima<\/span><\/figcaption><\/figure>\n

Since 2017, Chinese regulators have pushed to limit the amount of time minors spend playing video games \u2014 and companies including Tencent already have anti-addiction systems that they say cap young users\u2019 game time.<\/p>\n

However, it is still relatively easy for children to access online games because they can lie about their age.<\/p>\n

Economic Information Daily\u2019s comparison of video games to opium is particularly charged in China, which has a long and contentious history with the drug.<\/p>\n

\"Visitors
Economic Information Daily\u2019s comparison of video games to opium is particularly charged in China, which has a long and contentious history with the drug.<\/figcaption>
REUTERS<\/span><\/figcaption><\/figure>\n

In the 1800s, British traders sold opium to China, resulting in widespread addiction.<\/p>\n

When China sought to crack down on the opium trade, the British military intervened and forced the Chinese government to cede control of Hong Kong in an 1842 treaty.<\/p>\n

With Post wires<\/em><\/p>\n<\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Chinese state media calls gaming ‘opium,’ slamming stocks” Chinese state media on Tuesday slammed online games as \u201cspiritual opium,\u201d sending stocks of the country\u2019s largest video game company tumbling. Economic Information Daily \u2014 a newspaper affiliated with China\u2019s biggest state news agency, Xinhua \u2014 made the provocative comparison in an article in which it said…<\/p>\n","protected":false},"author":1,"featured_media":314936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/tencent-spiritual-opium-01.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[113371,4973,10751,72990],"class_list":["post-314935","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-8-3-21","tag-china","tag-gaming","tag-online-gaming"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/314935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=314935"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/314935\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/314936"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=314935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=314935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=314935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}