The Cyberspace Administration of China (CAC) department published on Wednesday its intentions to limit access to the Internet to two hours a day for those under 18 years of age through their cell phones.
Shares of technology companies plummeted as a result of this announcement, which details the Chinese government’s intentions to introduce “minor mode programs, which would prohibit users under the age of 18 from accessing the Internet on mobile devices from 10 a.m. a night until 6 in the morning.
According to the CAC, technology providers would be obliged to set time limits for the age range between 16 and 18 years, with two hours a day browsing through cell phones. In the range of 8 to 16 years, the time would be set at one hour a day and for those under 8 years of age, the minimum of eight minutes.
It is important to clarify that, according to the agency, companies should allow parents to decide whether to apply these time limits to their children.
The regulations have not yet been approved. It is in a draft state, and until next September 2 the organism will be open to public comments.
At the same time, the shares of technology companies suffer the consequences of said news. The stock market shares of “Bilibili and Kuaishou fell 6.98 % and 3.53 % respectively; while Tencent Holdings, which operates the social networking app WeChat, closed 2.99 % lower.
Behind this measure would be arguments such as the Chinese government’s concern about the increase in rates of myopia and Internet addiction in the population of children and adolescents.
However, since compliance with the regulations could imply a high cost for Internet providers, one consequence could be to completely prohibit minors from accessing the Internet through their smartphones.
M.Pino
Source: marketscreener
(Reference image source: Tim Gouw, Unsplash)
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