Posted 1/2/2024, 2:00:17 PM
China video game overseer steps down after regulations trigger stock rout
- Chinese official Feng Shixin who oversaw video game industry has stepped down after proposed regulations caused stock rout
- Feng's departure seen as sign China may ease some of the severe proposed restrictions on video game spending
- Proposed rules published Dec 23rd triggered sell-off of Chinese gaming stocks like Tencent and NetEase
- China recently changed to more supportive tone toward gaming industry before surprise rules
- Feng is veteran regulator who urged gaming companies to monitor content and gave keynotes at industry conferences