|WeChat app is seen on a smartphone in this illustration taken on Jul 13, 2021. (File photo by= Reuters/Dado Ruvic)|
[Asia News = Reporter Reakkana] SHANGHAI: China's top social media platforms, WeChat, Douyin, Sina Weibo and Kuaishou, said on Saturday (Aug 28) they would begin to rectify irregular practices of "self-media" accounts that publish financial information, reported state media Global Times, according to Reuters.
This follows an announcement by China's cyberspace regulator, the Cyberspace Administration of China (CAC), that it would look into accounts that have repeatedly released financial news illegally, distorted economic policy interpretation, badmouthed financial markets, spread rumours and disrupted network communications. The term "self-media" is mostly used on Chinese social media to describe independently operated accounts that produce original content but are not officially registered with the authorities.
WeChat said in a statement on Saturday that from now until Oct 26, it would investigate and shut down financial self-media accounts that "badmouth the financial market" and "blackmail and spread rumors". China is also framing rules to ban Internet companies whose data poses potential security risks from listing outside the country, including in the United States. China is also framing rules to ban Internet companies whose data poses potential security risks from listing outside the country, including in the United States.