[subscribe to Reclaim The Net.] Celebrities in China have been banned from showing off wealth and “extravagant pleasure” on social media. The announcement was the latest move in the government’s effort to crackdown on the entertainment industry. On Tuesday, the Cyberspace Administration of China said that celebrities and fan-club pages should “follow public order and good customs, adhere to correct public opinion orientation and value orientation, promote socialist core values, and maintain a healthy style and taste.” The internet regulator also said that celebrities will not be allowed to spread rumors, post private or false information, provoke their fans to…