China Reverses Course on Gaming Crackdown, Sparks Stock Surge
China appears to have reversed its strict gaming regulations, proposed by the National Press and Publication Administration (NPPA), which aimed to limit in-game purchases and playing time. The sudden disappearance of the draft rules from the NPPA website led to a surge in share prices for Chinese gaming companies like Tencent Holdings and NetEase. However, uncertainty still looms over the gaming sector as analysts remain unsure about the government's next steps, prompting Chinese developers to shift their focus towards overseas games.