Critics of Video Game industry tone down: China

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On Wednesday (Aug 4), Chinese state media softened their condemnation of the video gaming sector. A day after, a harshly worded piece knocked down shares in Tencent Holdings while still emphasizing their worry over kids’ Internet usage.
On Tuesday, the articles came after a story in the Economic Information Daily that referred to online video games as “spiritual opium.” They stated, “No industry should be permitted to flourish in a way that would kill a generation.”
After Beijing targeted the education and technology industries, knocking US$60 billion (S$81 billion) off the share price of gaming behemoth Tencent Holdings, the video went viral, reigniting investor worries of government interference. In a version, the publisher uploaded late Tuesday, the word “spiritual opium” had been deleted.
In an editorial article published on Wednesday, the People’s Daily, the official newspaper of the ruling Communist Party, stated that “all sections of society” must pay attention to and participate in safeguarding kids from Internet risks without pointing fingers.
In a front-page article, the Securities Daily, which is also state-backed, noted that while stricter restrictions for video gaming companies were needed, the industry’s healthy development was urgently needed to be supported.

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