A draft document outlining the restrictions caused a stir as tech stocks plunged, sending investors into panic.

Chinese authorities have said they may revise newly drafted online gambling rules, shortly after planned restrictions caused major tech companies to lose billions of dollars.

State broadcaster CCTV reported on Saturday that authorities had noted the “concerns and opinions expressed by all parties,” adding that “the State Press and Publications Administration will carefully review them and further revise and improve them.” he was referring to media supervision.

Authorities on Friday released a draft containing numerous rules and regulations aimed at curbing online spending and rewards for video games.

The impact was immediate, dealing a huge blow to the world’s largest gaming market. Investors went into a tailspin, causing China’s two largest companies, industry leader Tencent Holdings and Netease, to lose up to $80 billion in market value.

Under the new rules, online games would be prohibited from giving players rewards if they log in daily, if they spend money on a game for the first time, or if they spend money on a game multiple times in a row. All of them are common incentive mechanisms in online games.

CCTV reported that regulators may now change the wording of sections of the draft rules that limit the ability to encourage daily logins and wallet top-ups.

China has become increasingly tough on video games over the years.

The first major move against the gaming sector came in 2021, when Beijing imposed strict gaming limits on under-18s and suspended approval of new video games for about eight months, citing concerns about gambling addiction.

As a result of the crackdown, 2021 and 2022 were the most difficult years on record for the Chinese gaming industry as overall revenue contracted for the first time.

China reversed its position last year and began approving new games again, but regulators have remained committed to curbing the amount of time children spend playing and the amount of money they spend.

Under Friday’s draft, which imposes the strictest restrictions yet, games are also banned from offering probability-based drawing features to minors and from allowing the auctioning of virtual game items.

The new rules reflected Beijing’s concerns over user data and required game publishers to store their servers in China.

The draft comes as China’s video game market is back on track for growth this year, with domestic sales rising 13 percent to 303 billion yuan ($42.6 billion), according to industry association CGIGC.

Due to the sheer size and influence of the Chinese gaming giants, the global video game market could also be affected in the long term.

Several U.S. and European video game developers saw stocks plunge following Friday’s announcement, but the losses were small when compared to Tencent’s 16 percent plunge. According to Bloomberg News, Friday’s news reduced the company’s stock value by about $54 billion.

The administration is requesting public comment on the rules by Jan. 22.