December 22nd
Published on the website of the National Press and Publication Administration
Measures for the Administration of Online Games (Draft for Solicitation of Comments)
(hereinafter referred to as the "Measures")
Solicit opinions from the public
Among them mentioned:
Online games are not allowed to be set
Daily login, first top-up, continuous top-up
and other inducing rewards;
All online games are subject to a user deposit limit
The news caused an earthquake in the circle
In the eyes of industry insiders
At present, it is still a draft for comments
However, if it is implemented, it will hit game companies harder
will have a real impact on profitability
After the issuance of the "Measures" at noon
The share price of Hong Kong game stocks led by NetEase and Tencent plunged
As of the close of trading on the 22nd, the A-share online game sector Sanqi Mutual Entertainment, Youzu Network, Giant Network, Perfect World, Gigabit, etc. fell to the limit, the Growth Enterprise Market Shengtian Network, Glacier Network, Palm Fun Technology, etc. all fell more than 10%, the Hong Kong stock online game sector NetEase fell 24.6%, Tencent Holdings fell 12.35%, Bilibili fell nearly 10%, in addition, Zulong Entertainment, NetDragon fell 13%, CMGE fell more than 16%, and XD fell more than 19%.
According to calculations, the market value of Hong Kong stock Tencent Holdings evaporated by 367.05 billion Hong Kong dollars (about 334.8 billion yuan), almost losing a Xiaomi (market value of about 393.1 billion Hong Kong dollars, about 358.58 billion yuan), and the market value of Hong Kong stock NetEase also evaporated 137.5 billion Hong Kong dollars (about 125.4 billion yuan), with a total evaporation of more than 460 billion yuan.
In addition, a number of game ETFs dived to the limit. As of the close of trading on the afternoon of December 22, ChinaAMC CSI Animation & Game ETF, Huatai Pineapple CSI Animation & Game ETF, and Cathay CSI Animation & Game ETF hit the fall limit.
The online game industry ushered in strong regulation
Specifically, the Measures mention in Chapter 3 of the Publishing and Operation of Online Games that excessive use and high consumption of games are restricted.
- Online games are not allowed to set up inducing rewards such as daily login, first recharge, and continuous recharge.
- Online game publishing business units must not provide or condone high-priced transactions of virtual props through methods such as speculation or auctions.
- All online games must set user recharge limits and publicize them in their service rules, and pop-up warnings should be given to users' irrational consumption behaviors.
Regarding the prohibition of trading high-value props, game practitioners said, "At present, some games have a prop of more than 100,000 yuan to millions of yuan, and it is impossible to implement these." ”
The Measures also stipulate random selection, mentioning that when providing random selection services, online game publishing business entities should make reasonable settings for the number and probability of drawing, and must not induce online game users to consume excessively.
The Measures mention that those engaged in online game publishing activities must have the necessary technical equipment required to engage in online game publishing business, and the relevant servers and storage equipment must be stored within the territory of the People's Republic of China.
According to the 21st Century Business Herald, a number of industry insiders made it clear that the "Measures" have a great impact on the current online games, and almost all games must be adjusted accordingly.
At the recent annual meeting of the game industry, the just-released "2023 China Game Industry Report" showed that the actual sales revenue of China's game market in 2023 will be 302.964 billion yuan, an increase of 37.080 billion yuan, a year-on-year increase of 13.95%, and the first time to break through the 300 billion mark.
In 2023, the number of game users in China will be 668 million, a year-on-year increase of 0.61%, a record high. In 2023, the actual sales revenue of the mobile game market in mainland China will be 226.860 billion yuan, an increase of 33.802 billion yuan, a year-on-year increase of 17.51%, setting a new record.
Stock prices fell, and a number of companies responded
Several companies were quick to respond.
On December 22, Zhang Wei, vice president of Tencent Games, responded: The draft of the new management measures does not fundamentally change the key elements such as the business model and operation rhythm of games. The regulatory authorities have issued a draft of the new management measures to solicit opinions from the industry and society, which is believed to be more conducive to the orderly and healthy development of the game industry.
According to The Paper, on December 22, XD said that it would actively cooperate with the implementation of the new regulations. At the same time, the company also said that its self-developed products have always adhered to the R&D orientation of differentiated high-quality products, and never relied on strong operational methods such as rebates for first charges and daily check-ins. The company will fully implement the spirit of the new regulations and specific measures to jointly promote the healthy development of the industry.
According to Yicai, the staff of Yao Ji Technology said that the company should study the details and then follow up on relevant countermeasures.
Fuchun said on the interactive platform that if the "Measures" are implemented, it will have little impact on the company's existing operating game products. In 2022, overseas revenue accounted for 88.59% of the company's game revenue.
Regarding the heated discussion caused by the draft for comments, an insider from the Game Working Committee of the China Audio and Digital Association told reporters that since it is a draft for comments, it shows that all walks of life can speak freely at this stage to make it feasible and more perfect.
Sources: The Paper, Nanfang Daily, 21st Century Business Herald, National Business Daily, China News Network