China Reverses Course on Gaming Crackdown, Sparks Stock Surge

Chinese regulators appeared to backtrack from a proposal to tighten restrictions on online video games, as the draft rules disappeared from the regulator's website after causing a sell-off in tech stocks. The proposal aimed to limit spending on video games, prohibit minors from tipping live streamers, and ban rewards for frequent logins, citing concerns about protecting minors and regulating the gaming industry. The move comes amid broader concerns about Beijing's control over the economy and previous crackdowns on the tech industry, but also reflects the importance of Chinese tech companies like Tencent in the global gaming industry.