China halts approval for new online games - SCMP
China has suspended approval for all new online games.
That's according to a report in the South China Morning Post on Thursday (September 9).
It's thought to be part of Beijing's bid to curb gaming addiction among young people.
Citing sources with knowledge of the matter, the report said the decision was revealed at a meeting between Chinese authorities and industry giants Tencent and NetEase.
Tencent declined to comment.
NetEase did not immediately respond to a Reuters request for comment.
China moved in August to ban under-18s from playing video games for more than three hours a week.
It wants to curb a growing addiction to what it once described as "spiritual opium."
Chinese gaming and media stocks including Tencent and NetEase fell on Thursday.
A day after authorities summoned them and other gaming firms to ensure they implemented new rules for the sector.
After the news, Tencent shares shed more than 8%, while NetEase dropped as much as 13%.
The tighter gaming regulations come as China conducts a broader crackdown on a wide range of sectors.
These include tech, education and property, strengthening government control after years of runaway growth.
