Shanghai. June 29. INTERFAX-CHINA - Over 90 percent of China's online game operators are flouting new regulations regarding the trading of virtual currency, Chinese media reported on June 29.
On June 26, the Ministry of Culture and the Ministry of Commerce jointly issued new regulations under which gambling using in-game currency that has been purchased using real money is not allowed. The regulations also prohibit the exchange of virtual currency for real items.
However, Chinese newspaper Beijing Business News reported on June 29 that games of chance that allow gamers to gamble virtual currency are still widespread in Chinese massively multiplayer online role-playing games (MMORPGs).
One leading game operator told Interfax on June 29 that it is taking action to comply with the new regulations by removing a section of one of it games that involves users betting virtual currency on the contents of closed boxes in exchange for virtual items.
"We will stop the 'open-the-box' sub-game in our MMORPG, ZT Online, from July 6, in order to comply with the government's new regulations," Sun Geyang, a PR official with Giant Interactive Group Inc., said.
However, other online game operators have yet to respond to the new regulations.
Zhao Xufeng, an industry analyst with iResearch, said that the new policy may stabilize user numbers of MMORPGs, despite harming their revenues. He said that more free-to-play users will be attracted to games knowing that they will no longer be at a disadvantage compared to users who are prepared to pay money to gamble in exchange for virtual in-game items, which make their in-game characters stronger.
China's second largest online game exporter, Suzhou Snail Electronic Co. Ltd. (Snail Game), is expanding overseas into the world's most developed gaming markets with confidence in its ability to compete on both technology and innovation.
