A regulatory restructuring, which has led to a months-long halt on the approval of new video games in China, highlights the big role that the central government plays in the country’s internet industry
Tencent, which has lost more than US$150 billion in market value since January, reported a 2 per cent drop in second-quarter profit on lower gaming revenue and investment-related gains.
Tencent’s smartphone game business reported a decline of 19 per cent to 17.6 billion yuan from the prior quarter.
Source: SCMP
https://www.scmp.com/tech/social-gadget ... -drop-2005