Chinese official removed following stock tumbles from new game proposals
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Last week, a government official was removed from one of China's regulatory agencies following a dip in gaming stocks in response to new game proposals.
As reported by Reuters, per sources familiar with the matter, the withdrawn individual was head of the publishing unit of the Communist Party’s Publicity Department.
The department runs the regulator of China's gaming market, the National Press and Publication Administration (NPPA).
On December 22, the NPPA announced a series of planned restrictions on video game monetization tactics. For example, titles would need to impose spending limits on players, while publishers would be required to run all their servers for Chinese games in China.
Reuters said that Tencent shares fell by as much as 16%, and NetEase shares declined 25% after the proposals were released.
However, on December 27, the NPPA eased on the planned restrictions and said that it would improve them by "earnestly studying" public views, according to Reuters.
The video game regulator approved the licenses for 105 domestical online titles for December, higher than the monthly average.
Read more on gamesindustry.biz
