Posts Tagged ‘virtual currency’
Ministry Of Culture Issues Chinese Rules For Internet Games
June 22nd, 2010
To ensure an efficient management of the online games industry and make sure prominent problems of the industry are solved, China’s Ministry of Culture has issued a provisional measure on the management of online games.
As the first ministerial level regulation on computer games, the 39-clause provisional measure gives clear stipulations on the content, market subject, [...]
Chinese Game Regulations Cause Giant Interactive’s Revenue To Fall
October 5th, 2009
Taking advantage of the weeklong national holiday in China, online game development company Giant Interactive Group Inc. has tried to sneak through a press release that should cause alarm for investors.
Giant Interactive announced that after a preliminary review of its third quarter 2009 performance, it expects third quarter 2009 revenue to be between CNY272.0 million [...]
China Implements Stricter Management Of Virtual Currency
June 30th, 2009
China’s Ministry of Culture and Ministry of Commerce have jointly focused on the management of virtual money for online games with a new regulation which states that virtual currency should not be used in trade of real goods and services.
According to the regulation, the enhanced management of online games focuses on four aspects: the issuers [...]
PBOC To Regulate Payment, Settlement Businesses Of Internet Platforms In China
April 21st, 2009
The People’s Bank of China has published a notice that requires all non-financial organizations engaged in payment and settlement businesses in China, including Internet platforms such as Alipay, to fully register under the new guidelines before July 31, 2009.
Though PBOC says the registration results will only be used as references of making relevant policies and [...]
CNNIC: Many Of China’s 55.5 Million Online Game Players Have No Money!
March 24th, 2009
According to the latest report on Chinese online game users published by the China Internet Network Information Center, the number of online game players in China has reached 55.5 million, but many are considered low-end players.
The surveyed targets of this report were massively multiplayer online role-playing game users who played the games at least once [...]
Tax Man Cometh: Beijing Launches Rules For Online Currency Transactions
November 13th, 2008
Beijing Local Taxation Bureau has published tax collection rules for virtual and online currency transactions, which state that according to whether the individuals can provide income proof or not, they should pay tax at 20% of their profits or 3% of the total value of the transactions.
