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.
Comments
Re: Chinese Government Crackdown on Virtual Currency, ...
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
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?...