China Fires Top Official to Stem Games Fallout, Reuters Says
- Publicity Department unit head loses job after market rout
- Beijing has struck softer tone since the surprise regulations
This article is for subscribers only.
Signs are growing that China is trying to contain the damage from harsh new gaming regulations that triggered an $80 billion rout in Tencent Holdings Ltd. and its peers.
Feng Shixin lost his job as head of the publishing unit at China’s Publicity Department, which runs the country’s gaming regulator, Reuters reported, citing sources briefed on the matter. The South China Morning Post also reported on Feng’s departure, but said the official stepped down. His exit was linked to the release of draft gaming rules days before Christmas that shocked investors and industry participants.