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On May 30th, the State Administration for Market Regulation announced that, in order to adapt to the needs of combating and rectifying pyramid schemes under the new circumstances, protect the legitimate rights and interests of natural persons, legal persons, and unincorporated organizations, and maintain market order and social stability, it has organized the revision of the "Regulations on Prohibiting Pyramid Schemes," resulting in the "Draft Regulations on Prohibiting Pyramid Schemes (Revised Draft for Public Comment)," which is now open for public comment. The public comment period is from May 29th to June 28th, 2026. The draft revisions focus on the following aspects: adding specific content on combating online pyramid schemes; strengthening the working mechanisms and measures for preventing and combating pyramid schemes; and increasing the legal liabilities for pyramid schemes.On May 30, at the invitation of Valentina Matviyenko, Chairwoman of the Federation Council of Russia, and Volodin, Chairman of the State Duma, Zhao Leji, Chairman of the Standing Committee of the National Peoples Congress, paid an official friendly visit to Russia from May 27 to 30. In Moscow, he held separate talks with Matviyenko and Volodin and attended the 11th meeting of the China-Russia Parliamentary Cooperation Committee. Zhao Leji stated that the exchange mechanism between the legislative bodies of China and Russia is increasingly完善 (perfected/improved), playing an important role in optimizing the legal environment for bilateral cooperation and consolidating the public opinion foundation of bilateral relations. Both sides should, based on the functions and responsibilities of their legislative bodies, maintain the good momentum of multi-level and multi-field exchanges, enhance mutual understanding and trust, strengthen exchanges and mutual learning, and better serve the development of the China-Russia comprehensive strategic partnership of coordination for a new era. Exchanges of legislative experience should be conducted in areas such as national security, ecological and environmental protection, artificial intelligence, and foreign-related legal affairs.According to AXIOS, the first Windows PCs equipped with NVIDIA (NVDA.O) chips will be unveiled next week.On May 30th, Xiaomi officially unveiled its end-to-end optimization solution for the inference system of the MiMo-V2.5 series models. According to Xiaomi, the team systematically reconstructed the entire inference stack, from KVCache management, hierarchical caching, and prefix caching to scheduling strategies and the Prefill/Decode link, based on a hybrid architecture of Hybrid SWA+MoE+multimodal. KVCache storage was compressed to approximately 1/7 of comparable solutions, significantly reducing inference costs in long-sequence scenarios—this is the core technological foundation for this price reduction. On May 27th, the MiMo-V2.5 series API underwent a permanent price reduction, with a maximum reduction of 99%, regardless of input length.On May 30, the nations first green computing power full-stack AI platform was officially launched in the Hohhot Area of the Inner Mongolia Pilot Free Trade Zone, filling the gap in the regions one-stop computing power model word element comprehensive service transaction.

China Gaming Businesses Toe the Line, Clearing the Door to Lift Licensing Freeze

Aria Thomas

Apr 13, 2022 09:36

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While the timing of the easing was unexpected, sources and experts noted that businesses had gone over themselves in response to harsh criticism from authorities for noncompliance.


"This time around, regulations are unquestionably the tightest they've ever been," said Chenyu Cui, senior analyst at research firm Omdia. "Every organization is terrified of falling out of compliance."


According to a source at a gaming studio in which Tencent Holdings (OTC:TCEHY) is a significant stakeholder, the company was asked by Tencent to remove English phrases from the game, avoid the color red, and eliminate terms like "headshots" or "death" in order to comply.


Additionally, the studio delayed the title's worldwide release out of concern that it would be seen as a violation of Chinese regulations, the person said, refusing to be identified because he is not authorized to talk to the media.


During a similar license block in 2018, several projects – notably Tencent's Bladed Fury and Iris – chose to release their games.


Autumn - elsewhere, while the home crisis is handled.


Tencent did not respond to a request for comment.


China's officials have also been diligent in enforcing compliance in an industry previously dubbed "spiritual opium" by state media.


According to two individuals, firms were still able to submit games for approval throughout the ban and got frequent feedback on necessary improvements to their content or monetisation features.


According to a document reviewed by Reuters, a state-backed gaming group held a developer training session in September during which it emphasized that games must promote "a right set of values" and cannot feature violent or religious aspects.


According to Daniel Ahmad, senior analyst at Niko Partners, over 5,000 gaming businesses have now been linked to the country's anti-addiction system, several firms have altered in-game material, and non-compliant firms have been investigated and penalised by the appropriate agencies.


"Concerns have been handled satisfactorily," he said.


Tencent, NetEase (NASDAQ:NTES), and over 200 other companies promised to self-regulate in September to tackle gaming addiction.

HIT ON THE ECONOMIC SIDE

While businesses were reorganizing, Beijing could no longer ignore the deteriorating economic consequences of the gambling crackdown.


According to business registration company Tianyancha, some 14,000 video gaming-related businesses — including those engaged in retailing, advertising, and publishing – closed during the licensing freeze.


Some highly anticipated projects, such as Lilith Games' Eden Apocalypse, have also been delayed. A spokesman said that this was due to a shift in the direction of the firm.


According to three gaming industry insiders, numerous projects have been put on hold due to pressure to reduce their size and budget.


Tencent, a large employer of recent grads, said during its earnings call that it will decrease its recruiting pace, and Reuters reported that it and its peers intend to slash employment.


"They're doing this to safeguard employment," one industry executive told Reuters, refusing to be identified because he was not authorized to talk to the media.


National Press and Public Administration, the gaming industry's regulator, did not reply to a request for comment.

OUTSIDE VIEWS

On Tuesday, Chinese gaming stocks jumped on the regulatory relief, with some analysts claiming it demonstrated the government's commitment to the industry.


However, several expressed caution, noting that just 45 games were permitted this time, compared to the 80 to 90 that are typically approved once a month prior to the freeze.


And the situation has shifted dramatically, pushing some to diversify or perhaps abandon the Chinese market entirely.


Small gaming companies in China are exploring a transition to blockchain gaming in the West, even if it means quitting the Chinese industry, according to Greg Pilarowski, head of legal firm Pillar Legal.


"The present climate in China is really difficult for gaming firms," Pilarowski said. "As a result, many people are curious about how they might become involved in blockchain gaming... because cryptocurrency and blockchain have been very successful for a large number of individuals in the United States."

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