China's draft video game rules removed from website
China's gaming regulator has removed from its website rules it proposed last month aimed at curbing spending and rewards that encourage playing video games, in a move that boosted gaming company shares. Reuters news agency reported that the link to the draft rules on the National Press and Publication Administration's (NPPA) website was inaccessible as of Tuesday morning, after having worked on Monday. The consultation period on the rules expired on Monday. The removal was described by analysts as unusual, with some saying a revision could be in store. Hu Xiaoyue, an analyst at Haitong Securities, said in a note to clients that the removal of the announcement could signal "there might be further changes in the new measures". Hu said previous regulatory measures seeking opinions had a track record of staying on the government’s websites even after the consultation period ended. Shares in Tencent Holdings, the world's biggest gaming company, and its closest rival, NetEase rose by more than six percent against a 3.4 percent increase in Hong Kong's Hang Seng index in morning trade. The draft rules – which proposed setting spending limits for online games – had wiped off nearly US$80 billion in market value from China's two biggest gaming companies when they were announced. But five days later, the NPPA struck a more conciliatory tone, saying it would improve them by "earnestly studying" public views. (Reuters)