Tencent's value plummets by $20bn after China dishes out new regulations on games
Company has lost $164bn in value since January
By Alex Calvin, PCGamesInsider Contributing Editor
Tencent's value has dropped by some $20 billion following news that China's content regulators are eyeing up new restrictions on video games in order to fight growing myopia - shortsightedness - among the youth.
Reuters reports that the Chinese publishing giant's market value has dropped by $164 billion since January 2018, going from being the biggest company in China by market cap to second place behind nemesis Alibaba Group.
This hasn't been helped by said regulator simply not approving new games for release in the region since the end of March.
Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site PCGamesInsider.biz. In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.
