China slows approval of new online games: SCMP

September 9 (Reuters) – China has temporarily slowed approval of all new online games with the aim of curbing gambling addiction among young people, the South China Morning Post reported on Thursday, citing people with knowledge of the matter.

The move to curb approvals was revealed at a meeting between Chinese authorities and industry giants Tencent Holdings Ltd (0700.HK) and NetEase Inc (9999.HK), according to the report, which added that it was not clear how long the suspension would last.

On Wednesday, Beijing had convened video game companies like Tencent and NetEase. Read more

Tencent declined to comment. NetEase did not immediately respond to Reuters’ request for comment.

China moved in August to ban children under the age of 18 from playing video games for more than three hours a week, saying this was necessary to curb a growing addiction to what it once described as “spiritual opium.” Read more

China has carried out a broad crackdown on a wide range of sectors, including technology, education and property, to strengthen government control after years of fugitive growth. Read more

(This story was corrected to say that China “slows down” approvals, not “suspends”, in the title, paragraphs 1 and 2 after SCMP clarifies)

Report by Anirudh Saligram in Bengaluru Edited by Raissa Kasolowsky and John Stonestreet

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