According to reports, China removed the top official after a new rules proposal triggered a stock market route just before Christmas.
Topline
The Chinese government has ousted a top official in charge of regulating the country’s gaming industry, according to reports, in a likely effort to stem the damage from a stock market rout over proposed restrictions on online games in late December.Key Facts
Feng Shixin was forced to step down from his role as the publication bureau chief at the Communist Party’s Central Propaganda Department, Reuters and South China Morning Post reported.
The department led by Feng oversaw the National Press and Publication Administration (NPPA), which published a controversial set of proposed rules aimed at limiting spending and engagement on online games late last month, triggering a $80 billion stock market selloff.
