Tencent has announced plans to introduce a new real name verification system to limit play time for younger users of its lucrative Honour of Kings video game, as the Chinese technology conglomerate battles escalating government scrutiny.
The move follows an onslaught of regulatory curbs by Beijing that has scythed more than one-third off Tencent’s share price since the January peak and triggered a rare drop in profits in the second quarter.
While Tencent — which garners the bulk of its revenues and growth from gaming — has previously taken steps to address Beijing’s concerns of children’s “addiction” to the top-grossing game, including limiting time spent playing by minors, regulators have ratcheted up the pressure in recent months.
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