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Tencent Bounces Back After State Media Soften Tone on Gaming

  • Media stopped using ‘spiritual opium,’ noted adverse effects
  • Tencent’s shares recouped almost half of Tuesday’s loss
Bloomberg business news
Tencent Weighs Kids Games Ban After ‘Spiritual Opium’ Rebuke
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Chinese media including the Communist Party’s flagship newspaper toned down their criticism of the games industry on Wednesday, helping Tencent Holdings Ltd. and its peers recoup some of their losses from a market rout a day earlier.

Instead of calling video games “spiritual opium,” as a Tuesday article in the Economic Information Daily had, the People’s Daily published an editorial in its overseas edition that stressed the need for government, schools, families and society to work together to better protect children from excessive gaming. Controlled by the Party’s Central Committee, its positions on issues are widely seen as reflecting the views of China’s most senior leaders.