China bans foreign investment in online gaming
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China's banned all foreign investment into its online games industry in an "effort to tighten control over its virtual worlds," according to Reuters.
According to that piece, "China's video game industry regulator the General Administration of Press and Publication (GAPP) and copyright watchdog issued a circular on Saturday prohibiting foreign investment in domestic online gaming operations through joint ventures, wholly owned enterprises and cooperatives."
Nasty. But maybe not so unsurprising when you consider the market will likely grow between 30-50 percent this year to $3.5-4 billion.
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