Tencent cuts back gaming budget

Source:Global Times Published: 2018/11/8 18:58:41

Tech gaming giant Tencent is reportedly cutting its gaming budget after the State media slammed gaming developers for ruining children and Chinese regulators tightened approval for new games.

The company told its executives to contain cash flow and slash spending to "endure the hard time together," Bloomberg reported.

After regulators froze all applications for new games in August, domestic gaming companies like Tencent and Netease are struggling to create new profits, industry website 3dmgame.com reported.

Posted in: ECONOMY,COMPANIES

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