On Friday, December 22, Chinese regulators introduced new draft rules for online video games, zeroing in on players’ spending amid a broader crackdown on the sector.

12 月 22 日星期五，中国监管机构出台了新的网络视频游戏规则草案，在对该行业进行更广泛的打击的同时，将重点放在玩家的支出上。

Among the unveiled rules were those that require that game coin trading services must use real-name central bank digital currency (CBDC) wallets.

公布的规则中包括要求游戏币交易服务必须使用实名制央行数字货币（CBDC）钱包。

China sets spending limits and bans daily login rewards 

中国设定消费限额并禁止每日登录奖励

According to the draft, game coin trading service providers will be required to use the true names of their digital renminbi (RMB) wallets and must not offer anonymous services. Furthermore, the regulators banned services that allow players to exchange game coins for fiat. 

根据草案，游戏币交易服务提供商将被要求使用其数字人民币钱包的真实姓名，并且不得提供匿名服务。此外，监管机构还禁止允许玩家将游戏币兑换成法定货币的服务。

The draft, published by the National Press and Publication Administration (NPPA), also said online games will have to impose spending limits and get rid of daily login rewards. Additionally, the rules proposed prohibiting significant tips for rewards to players who livestream their games, and also banning online games from providing probability-based luck draw Features to minors. 

该草案由国家新闻出版署（NPPA）发布，还表示网络游戏必须实行支出限制并取消每日登录奖励。此外，规则还提议禁止向直播游戏的玩家提供重大奖励提示，并禁止网络游戏向未成年人提供基于概率的抽奖功能。

The game approvals must be processed by regulators within 60 days, the draft said, adding that game publishers are obliged to store their servers within China. 

草案称，游戏审批必须在 60 天内得到监管机构的处理，并补充说游戏发行商有义务将其服务器存储在中国境内。

The administration is seeking public opinion on the proposed regulations through January 22, 2024.  

政府正在就拟议法规征求公众意见，截止日期为 2024 年 1 月 22 日。

Stocks of Chinese tech giants nosedive

中国科技巨头股价暴跌

Following the draft’s release, shares of numerous Chinese internet giants plunged on Friday, erasing billions off their collective valuations. 

草案发布后，众多中国互联网巨头的股价周五暴跌，集体估值蒸发数十亿美元。

Among the biggest losers was the multimedia juggernaut Tencent, which fell 12.35% in Hong Kong trading, wiping 367 billion Hong Kong dollars ($47 billion) off its market cap.

多媒体巨头腾讯是跌幅最大的公司之一，该公司在香港交易中下跌 12.35%，市值蒸发 3,670 亿港元（470 亿美元）。

Gaming giant NetEase saw its share price plunge 25%, its sharpest single-day loss since June 2020, while video-sharing platform Bilibili tumbled 9.7%. Short-video app operator Kuaishou dropped 7.2%. 

游戏巨头网易股价暴跌 25%，为 2020 年 6 月以来最大单日跌幅，而视频共享平台哔哩哔哩则暴跌 9.7%。短视频应用运营商快手下跌 7.2%。

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