In a significant shake-up within China's regulatory bodies, several officials have been removed from their positions. Nine Chinese generals and three defense technology officials were dismissed from a top Chinese Communist Party advisory body, as reported by Chinese state media. Additionally, the director of the publication bureau at the Publicity Department in Beijing was removed due to the implementation of game restrictions, a move seen as Beijing's attempt to stabilize market sentiment and avoid contractionary policies. Amidst the regulatory turmoil, David Wallerstein, Tencent's chief exploration officer, has stepped down from his management role. These developments come as China continues its efforts to curb the tech, entertainment, and gaming sectors, with a focus on companies like Tencent. Furthermore, a government official responsible for overseeing China's press and publication regulator was removed following the proposal of new video game rules that led to market unrest, as confirmed by five sources.
Chinese video gaming official steps down after video gaming rout, sources say https://t.co/bH1a4lCPuH via @scmpnews
Exclusive: China removes official after video games rules spark turmoil https://t.co/BqirHUrJJE https://t.co/War2fCe3B5
Exclusive: China removes official after video games rules spark turmoil https://t.co/NDdxhIWYXV via @ByJoshYe
My latest: EXCLUSIVE -China removes official after video games rules spark turmoil -sources - Reuters News China removed an official at a government body overseeing its press and publications regulator, five sources who were briefed on the matter said, days after Chinese gaming… https://t.co/IdSSjM2b6Q
🇨🇳👀 REUTERS EXCLUSIVE: **CHINA REMOVED GOVERNMENT OFFICIAL FROM POSITION LAST WEEK AFTER PROPOSED VIDEO GAMES RULES WHICH SPARKED MARKET TURMOIL **CHINESE OFFICIAL WORKED FOR THE GOVERNMENT BODY THAT OVERSEES CHINA'S PRESS AND PUBLICATION REGULATOR https://t.co/ssuubPxQpV
CHINA REMOVED GOVERNMENT OFFICIAL FROM POSITION LAST WEEK AFTER PROPOSED VIDEO GAMES RULES WHICH SPARKED MARKET TURMOIL -SOURCES- RTRS CHINESE OFFICIAL WORKED FOR THE GOVERNMENT BODY THAT OVERSEES CHINA'S PRESS AND PUBLICATION REGULATOR -SOURCES - RTRS
Tech Insider: We wrap the biggest stories in tech around China, including: - Cloud giants look overseas as margins dwindle at home - Mass rollout begins of EVs powered by lithium-ion alternative - Tencent exec cedes key role amid China gaming turmoil https://t.co/oelqlZEOgd
"#Tencent chief exploration officer David Wallerstein is leaving his management role, as the company struggles w/#China’s ongoing efforts to curb tech, entertainment & gaming cos" https://t.co/Pd3ZiCdyjy
The director of the publication bureau at the Publicity Department has been removed for launching the game restrictions. This is a very positive move, suggesting that Beijing has become more serious about stabilizing market sentiment and preventing contractionary policies. https://t.co/kDvchoo30v
Nine Chinese generals and three Chinese defense technology officials were removed from a top Chinese Communist Party advisory body last week, according to Chinese state media. https://t.co/Bh9mElNEoB