Tencent Sheds $54 Billion as China Unveils Latest Gaming Curbs

(Bloomberg) — China unveiled a raft of new measures to rein in spending and content in online games, signaling the start of another industry crackdown and wiping out roughly $54 billion of Tencent Holdings Ltd.’s value.

Beijing’s top gaming regulator on Friday published draft rules broadly designed to clamp down on practices that encourage players to spend more money and time online. Among other things, they include a ban on rewards for frequent log-ins, forced player-duels and a vague prohibition on any content deemed to violate state secrets.