Exclusive | Chinese video gaming official steps down after market rout linked to proposed rule changes, sources say
- Feng Shixin has left his official role as the publication bureau chief at the Communist Party’s Central Propaganda Department, people say
- Move comes as Beijing attempts to limit the damage from draft rules from watchdog aimed at reining back spending on video games
A key Chinese official involved in oversight of the country’s video gaming industry has stepped down after proposed regulation last month wiped out billions of dollars of value from Chinese gaming stocks, according to people familiar with the situation.
Feng Shixin, a long-serving official, has left his official role as the publication bureau chief at the Communist Party’s Central Propaganda Department, one person told the South China Morning Post, asking not to be identified due to the sensitivity of the matter.
A second person, who also asked for anonymity, said Feng’s departure was a sign that China may walk back some of last month’s proposed restrictions on consumer spending in video games, which surprised the market due to their severity.
The National Press and Publication Administration (NPPA), the agency that answers directly to the propaganda authority in overseeing China’s video gaming industry, did not immediately respond to a request for comment.
Feng’s departure comes as Beijing attempts to limit the damage from the NPPA’s disclosure on December 23 of draft rules aimed at reining back spending on video games, which triggered a global sell-off of China gaming stocks, including leading players such as Tencent Holdings and NetEase.
