Taobao Bans Trading of Virtual Items for Overseas Games

Sohu IT, 8/26/10

Chinese B2C e-commerce site Taobao has issued a statement announcing that as of August 26 it has closed all virtual item trading for overseas games.

Taobao stated that the move was in response to a notice received from China's Ministry of Culture, in accordance with the the "Interim Regulations for Online Game Management" issued in June that came into effect on August 1. The regulations stipulate that online gaming virtual item transaction platforms cannot host transactions for games that have not been approved or registered.

Prior to Taobao's announcement, online game virtual item trading platform 5173.com also shut down all trading of virtual items for overseas games as of August 24.

Keywords: online gaming 5173.com e-commerce Taobao Internet overseas B2C virtual items Ministry of Culture regulation

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