China's Gaming Regulator Removes Draft Rules from Website

The unexpected move signals a potential reversal on proposed gaming restrictions, causing a surge in shares of major gaming companies.

China's National Press and Publication Administration (NPPA) has removed draft rules aimed at curbing video gaming from its website, signaling a potential reversal on the proposed regulations.
The draft rules, which were open for public feedback until January 22, proposed limiting in-game purchases and discouraging 'obsessive' gaming.
The proposed rules had caused significant turmoil in the stock market, with shares of major gaming companies Tencent Holdings and NetEase plummeting, wiping nearly $80bn off their value.
Following the removal of the draft rules, shares of Tencent and NetEase jumped, indicating a positive response from the market.
The removal of the draft rules is seen as unusual and could suggest further changes to the proposed measures.