China has banned its celebrities from showing off their wealth on social media in the latest crackdown on the entertainment industry. The Cyberspace Administration of China made the announcement on Tuesday that celebrities in the country will not be allowed to ‘show off wealth’ or ‘extravagant pleasure’ on social media. The rules also prevent celebrities from publishing false or private information, provoking fans against other fan groups, and spreading rumours. Business Insider also reports that social media accounts of both celebrities and fans will be required to adhere to ‘public order and good customs, adhere to correct public opinion orientation…