China Drops Plan to Limit Video Game Spending After Backlash
• Chinese regulators retracted a proposal to limit video game spending after it battered gaming stocks • The original proposal required games to cap user spending and limit "excessive" rewards • The reversal is rare - it's uncommon for regulators to completely drop a published proposal • The move comes as China tries to shore up investor confidence in its markets • Over the past year, China has eased crackdowns on gaming and internet platforms to support economic growth