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China Removes Official After Video Games Rules Spark Turmoil (RTRS Soruces)

CHINA

MNI (London) - RTRS sources have noted that “China removed an official at a government body overseeing its press and publications regulator, days after Chinese gaming stocks were hit by proposed rules to curb spending on video games.”

  • A reminder that those curbs weighed on the Chinese tech sphere (with the Hang Seng Tech Index making a fresh ’23 low), before suggestions that regulators may be open to watering down the legislation allowed Chinese/HK tech equity sub-indices to pare some of the related losses.
  • The likes of Tencent and NetEase H-shares still sit comfortably below the levels witnessed ahead of the announcement re: the proposed rules, although they have pared over half of the related declines.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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