wipeout

Beijing has quietly pulled the proposed curbs on the video game industry from the official website, weeks after the draft guidelines wiped tens of billions of dollars off the market value of local titans. The link to the draft rules was no longer accessible as of this morning, as first reported by Reuters. The move follows Beijing also removing a key official – the head of the publication bureau of Communist Party’s Propaganda Department – over the handling of the release of the draft rules, which caught investors and gaming giants by surprise. Local media reported in recent weeks — after the wipeout — that authorities may be open to walking back on some of the proposed rules. Last month, China’s video game regulator proposed new measures to curb excessive time and money spent on computer and smartphone games.