Chinese Government Crackdown on Virtual Currency, Internet Cafes
Chinese Government Crackdown on Virtual Currency, Internet Cafes
March 8, 2007
According to the Financial Times, the Chinese government has restricted the use of virtual currency from online games amidst fears that such funds could threaten the global economy.FT notes that Chinese officials are especially concerned about QQ Coins, a form of virtual payment issued by Tencent, an online messaging and games service based in Hong Kong. According to the report:
Tencent's messaging system is used by an estimated two-thirds of Chinese internet users and its QQ Coins have been accepted as payment by other companies as well as sold for legal tender.
New Chinese regulations prohibit using virtual currency for profit and mandate that such funds be used only to buy virtual goods. The government concern is partly based on worries that virtual currency is being used to skirt China strict anti-gambling laws.
In other news, Reuters reports that the Chinese government has placed a moratorium on the opening of new Internet cafes for the remainder of 2007. In its report, Reuters quotes National People's Congress official Yu Wen:
It is common to see students from primary and middle schools lingering in Internet bars overnight, puffing on cigarettes and engrossed in online games.
Minors are barred by law from China's Internet cafes over concerns about youth crime and online addiction. A 2006 report issued by the China National Children's Centre claims that 13% of Chinese juveniles who use the Internet are addicted.
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LOGINGamePolitics ShoutBox
Posted 11/22/09 at 11:48pm
ZippyDSMlee: AE:they feeding you well? I am enjoying win7 and heading to bed...uhg I need to get up early and start back to cleaning/painting blahg >< need tog et stuff done befor thanksgiving....
ZippyDSMlee: AE:they feeding you well? I am enjoying win7 and heading to bed...uhg I need to get up early and start back to cleaning/painting blahg >< need tog et stuff done befor thanksgiving....
Posted 11/22/09 at 11:41pm
Andrew Eisen: Just got home from an eight hour recording session at Capitol Records. A lot of fun but damn exhausting.
Andrew Eisen: Just got home from an eight hour recording session at Capitol Records. A lot of fun but damn exhausting.
Posted 11/22/09 at 08:44pm
BearDogg-X: 10 N. O. Who Dat?
BearDogg-X: 10 N. O. Who Dat?
Posted 11/22/09 at 09:45am
ZippyDSMlee: JD:I think doc phill is still sout about the break up with his wife he dose not fill holes as much as make them bigger these day
ZippyDSMlee: JD:I think doc phill is still sout about the break up with his wife he dose not fill holes as much as make them bigger these day
Posted 11/22/09 at 12:06am
JDKJ: You should get Phil McCraken to help you spackle those banisters.
JDKJ: You should get Phil McCraken to help you spackle those banisters.
Posted 11/21/09 at 11:57pm
ZippyDSMlee: Oh in the pirate hunter article I need my song ieda heckled DS,JD,Beemon sic im !!!
ZippyDSMlee: Oh in the pirate hunter article I need my song ieda heckled DS,JD,Beemon sic im !!!
Posted 11/21/09 at 11:56pm
ZippyDSMlee: JD:no I am tried from prepping the banisters for painting , worked on them from 12 to 4 and 6 to 8...after I got back from the store...got up early got ready...blah...been up all day..I need a nap...
ZippyDSMlee: JD:no I am tried from prepping the banisters for painting , worked on them from 12 to 4 and 6 to 8...after I got back from the store...got up early got ready...blah...been up all day..I need a nap...
Posted 11/21/09 at 11:42pm
JDKJ: No. You gonna stay up late tonight soldering?
JDKJ: No. You gonna stay up late tonight soldering?
Posted 11/21/09 at 11:41pm
ZippyDSMlee: JDKJ:Don't you mean Mctite?
ZippyDSMlee: JDKJ:Don't you mean Mctite?
Posted 11/21/09 at 11:33pm
JDKJ: @Zip: Neil, Bob, and Lik McTaint. The McTaint brothers. LOL!!!
JDKJ: @Zip: Neil, Bob, and Lik McTaint. The McTaint brothers. LOL!!!
Posted 11/21/09 at 09:44pm
Flamespeak: I still think military personell, killing other military personell, on a military complex should be handled by military courts.
Flamespeak: I still think military personell, killing other military personell, on a military complex should be handled by military courts.
Posted 11/21/09 at 09:43pm
Flamespeak: I could see this a mixture of the two charges rather than just one or the other.
Flamespeak: I could see this a mixture of the two charges rather than just one or the other.
Posted 11/21/09 at 09:43pm
Flamespeak: I think this was mainly a person who snapped, but evidence is showing he definitely had strong inlinations to islamic-extremism.
Flamespeak: I think this was mainly a person who snapped, but evidence is showing he definitely had strong inlinations to islamic-extremism.
Posted 11/21/09 at 09:41pm
Flamespeak: People are trying to claim that Hasan's actions were not terrorism. I don't jump on the 'terror train' like others, however
Flamespeak: People are trying to claim that Hasan's actions were not terrorism. I don't jump on the 'terror train' like others, however
Posted 11/21/09 at 09:38pm
mentor07825: Britain certainly does deserve it! And the French! God damn it, it was a hand ball!!!
mentor07825: Britain certainly does deserve it! And the French! God damn it, it was a hand ball!!!
Posted 11/21/09 at 09:34pm
ZippyDSMlee: mentor07825:Well Brittan dose deserve it....
ZippyDSMlee: mentor07825:Well Brittan dose deserve it....
Posted 11/21/09 at 09:33pm
ZippyDSMlee: Alyric:I don;t hasliburton having to pay back billoins... don;t you love it when the rich roll over the goverment without a care?
ZippyDSMlee: Alyric:I don;t hasliburton having to pay back billoins... don;t you love it when the rich roll over the goverment without a care?
Posted 11/21/09 at 09:32pm
mentor07825: I say we nuke the whales, for the benefit of both mankind and the environment.
mentor07825: I say we nuke the whales, for the benefit of both mankind and the environment.
Posted 11/21/09 at 09:28pm
Austin_Lewis: I say we try Al Gore too. I always said he was in on the racket.
Austin_Lewis: I say we try Al Gore too. I always said he was in on the racket.
Posted 11/21/09 at 09:16pm
Alyric: The leaked information proves these organizations knowingly defrauded governments (i.e., taxpayers) out of billions of dollars. Yet there will probably never be a trial.
Alyric: The leaked information proves these organizations knowingly defrauded governments (i.e., taxpayers) out of billions of dollars. Yet there will probably never be a trial.
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Game Politics and Game Politics logo are trademarks of the ECA.
Game Politics and Game Politics logo are trademarks of the ECA.
Comments
As for the currency worries, there's a valid case to be made. To keep up wtih its current growth, China can't afford more than a little inflation, because if the yuan's value falls too fast, China can't buy all the foreign resources (oil, food, etc.) it needs. And from the scale of virtual currency use the FT is describing (2/3 of the ccountry's internet users using a single virtual currency!), it's a genuine worry.
To be honest after living here for a while, I find that China's system is communist in name only; their society is very largely Capitalistic by nature, but the thing is they can't afford to call themselves Captialist because the citizens aren't ready for things like voting and stuff yet.
'm surprised they haven't banned china in china yet
China's leader was on it...
Regardless of whether or not you personally believe that statistic doesn't make it any more true. It SOUNDS valid that someone reharsing violent acts on a video game may be more inclined to violence. Does that make it true?
Thus, unless the report has been subjected to independent (re:Non-government) review, or I can view the specifics of the study (what type of study it was, what the sample was, how they defined "addicted" etc.), I call BS. Since the Chinese government would have the most to gain if that statistic was true, I am NOT going to take their word for it.
Still, this is a fruitless attempt because without in-game currency, transferrable items will become the in-game currency. Rare items are already the big-ticket thing. I think China is trying to legislate common sense into people. Good luck!
"13% of Chinese juveniles who use the Internet are addicted."
Maybe it's because they restrict their access to it?
Some portions of this article sounds interesting. May be you have some links where I could read more about this topic?...
One thing that a lot of people have missed in this recent economic down turn is the fact that in-game money for all of the massive mutliplayer online role playing games has not been effected. I guess it just shows how strong and stable the computer game industry really is. --------- george Virtual Currency