FILE: Chinese gamers flock to largest gaming expo in Shanghai

Chinese users playing online games at Tencent Games booth during the largest gaming industry expo, ChinaJoy, in Shanghai.

China on Friday announced new plans to restrict the online gaming industry, sending shares in tech giants including Tencent tumbling and wiping tens of billions of dollars off their value.

New draft restrictions published online by the regulator are aimed at limiting in-game purchases and compulsive playing behavior.