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 11/05/09 at 10:37am
Valdearg: Holy HELL this is one nutty teabagger!! http://www.georgehutchins.com/
Valdearg: Holy HELL this is one nutty teabagger!! http://www.georgehutchins.com/
Posted 11/05/09 at 05:09am
mentor07825: It certainly was a lively day in the shoutbox Andrew.
mentor07825: It certainly was a lively day in the shoutbox Andrew.
Posted 11/04/09 at 11:38pm
Michael Chandra: Waiting for an ugly game in beta to get released. And gotta go to bed now, sleep, study for exam all day.
Michael Chandra: Waiting for an ugly game in beta to get released. And gotta go to bed now, sleep, study for exam all day.
Posted 11/04/09 at 09:25pm
JDKJ: 'Sup, Chan?
JDKJ: 'Sup, Chan?
Posted 11/04/09 at 08:57pm
Michael Chandra: And I missed it due to playing a game =( I wouldn't have minded witnessing this 'game' instead.
Michael Chandra: And I missed it due to playing a game =( I wouldn't have minded witnessing this 'game' instead.
Posted 11/04/09 at 07:41pm
Andrew Eisen: Well, that certainly was a lively day in the ShoutBox.
Andrew Eisen: Well, that certainly was a lively day in the ShoutBox.
Posted 11/04/09 at 06:56pm
JDKJ: And that's something for which Reagan is guilty. He completely messed up the airline industry with deregulation. And it's never really recovered since.
JDKJ: And that's something for which Reagan is guilty. He completely messed up the airline industry with deregulation. And it's never really recovered since.
Posted 11/04/09 at 06:52pm
Shaoken: @JDKJ: Fair enough. Wall Street deserves a lot of blame, but so do Republicans/other polis who were against regulation.
Shaoken: @JDKJ: Fair enough. Wall Street deserves a lot of blame, but so do Republicans/other polis who were against regulation.
Posted 11/04/09 at 06:51pm
Shaoken: Of course I bet he's laughing; most of the blame is going to go on Obama, and he's going to have to spend all 8 years solving it
Shaoken: Of course I bet he's laughing; most of the blame is going to go on Obama, and he's going to have to spend all 8 years solving it
Posted 11/04/09 at 06:50pm
JDKJ: Apart from the wholly public economy, I don't think it's fair to place the blame or credit at the feet of any President. The President has very little to no control over the factors influencing the much larger private econony (e.g., monetary policy).
JDKJ: Apart from the wholly public economy, I don't think it's fair to place the blame or credit at the feet of any President. The President has very little to no control over the factors influencing the much larger private econony (e.g., monetary policy).
Posted 11/04/09 at 06:49pm
Shaoken: You would think Bush would have learned that, but he did the exact same thing.
Shaoken: You would think Bush would have learned that, but he did the exact same thing.
Posted 11/04/09 at 06:43pm
Shaoken: To reflect on the recession of Regean's time, I'd say he caused it. You don't cut taxes and increase military spending
Shaoken: To reflect on the recession of Regean's time, I'd say he caused it. You don't cut taxes and increase military spending
Posted 11/04/09 at 06:25pm
JDKJ: @A_L: And a full bird colonel ain't nothing more than some four-star general's grunt. That's the way the chain of command works in this man's army, Soldier!!
JDKJ: @A_L: And a full bird colonel ain't nothing more than some four-star general's grunt. That's the way the chain of command works in this man's army, Soldier!!
Posted 11/04/09 at 06:18pm
Valdearg: Can you tell him that blinking text and rotating gifs went out of style in the 90's?
Valdearg: Can you tell him that blinking text and rotating gifs went out of style in the 90's?
Posted 11/04/09 at 06:18pm
Valdearg: @A_L: You can stomach that excuse for web programming? Nothing like flashing links and sirens to start off your day!
Valdearg: @A_L: You can stomach that excuse for web programming? Nothing like flashing links and sirens to start off your day!
Posted 11/04/09 at 06:17pm
JDKJ: Then either Glenn's stealing all his shit from Matt or Matt's stealing all his shit from Glenn or maybe they're both getting it from the same shit source but, either way, you sound a lot like you're reading from over Glenn's shoulder. Trust me.
JDKJ: Then either Glenn's stealing all his shit from Matt or Matt's stealing all his shit from Glenn or maybe they're both getting it from the same shit source but, either way, you sound a lot like you're reading from over Glenn's shoulder. Trust me.
Posted 11/04/09 at 06:14pm
Austin_Lewis: JDKJ: you confuse military grunt philosophy with officer or special operations philosophy. Also, I don't watch beck, I read drudge report.
Austin_Lewis: JDKJ: you confuse military grunt philosophy with officer or special operations philosophy. Also, I don't watch beck, I read drudge report.
Posted 11/04/09 at 06:07pm
JDKJ: @Val': I quit tuning in to watch Beck's program when I figured out I was getting a daily summary of his show from Austin Lewis on GamePolitics. No need to hear the same crap twice.
JDKJ: @Val': I quit tuning in to watch Beck's program when I figured out I was getting a daily summary of his show from Austin Lewis on GamePolitics. No need to hear the same crap twice.
Posted 11/04/09 at 06:05pm
Valdearg: @A_L: If you aren't a mindless Beckite, why do you quote thier talking points almost verbatim?
Valdearg: @A_L: If you aren't a mindless Beckite, why do you quote thier talking points almost verbatim?
Posted 11/04/09 at 06:02pm
JDKJ: Absolutely it's opinion. But I don't think it's entirely far-fetched. Military philosophy places much stock in "group think" and "shoot first, ask questions later" and "when I say jump, you say how high" etc., etc. It ain't opinion without some basis.
JDKJ: Absolutely it's opinion. But I don't think it's entirely far-fetched. Military philosophy places much stock in "group think" and "shoot first, ask questions later" and "when I say jump, you say how high" etc., etc. It ain't opinion without some basis.
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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