Top story: Tencent suffers stock market slump amid esports myopia fears

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Top story: Tencent suffers stock market slump amid esports myopia fears

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Top Story

Tencent Holdings, China’s largest gaming and social media firm, has seen its market value drop by US$20 billion after a government crackdown on esports.


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The company, which is a large investor in esports with stakes in developers such as Riot Games and Fortnite’s Epic Games, has had no new releases approved by the Chinese government since April as rising myopia cases among children has led to tighter restrictions being imposed in the online gaming industry.

China’s ministry of education issued a directive to set a limit on new video games being published as well as restricting the amount of time being spent on games by young people due to the increase in myopia cases, citing electronic devices and a lack of outdoor activities as its main causes.

Regulations have meant that Tencent announced a quarterly loss for the first time in 13 years last month. There are fears as to what effect the restrictions will have on the gaming industry in China, which has a bleak outlook at present.


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Our industry digest will update throughout the day as deals break so check back to make sure you do not miss a story