Recently, the National Press and Publication Administration issued the Measures for the Administration of Online Games (Draft for Solicitation of Comments), which further regulates the online game market. According to the draft opinion, online games will no longer be allowed to set up inducing rewards such as daily login, first recharge, and continuous recharge, aiming to curb excessive guidance and consumption incentives for players.
In addition, the new regulations also make it clear that online game publishing business entities shall not provide or condone the trading of virtual props in the form of speculation, auctions, etc., and strive to maintain the stability of the internal economic order of the game.
In order to regulate user top-up behavior, the new regulations require all online games to set user top-up limits and publicize them in their service rules. For users' irrational consumption behaviors, game platforms should promptly warn and remind them through pop-up windows and other means.
As soon as this news was released, it quickly caused a lot of volatility in the gaming industry. In the afternoon of the same day, many game stocks such as Sanqi Mutual Entertainment and Baotong Technology crashed and stopped, and the market was in chaos.
At the same time, Hong Kong game stocks were also affected, with Tencent's share price exceeding 15% and NetEase expanding to nearly 30%, recording the largest intraday decline in history. This ripple effect has plunged the entire gaming industry into a serious crisis. In the future, with the further advancement of the new regulations, the game industry may usher in profound changes.