China clamps down on misleading ‘self-media’ accounts

The Cyberspace Administration of China said these “self-media” accounts seriously disrupted the order of information dissemination on the internet

The Chinese government is tightening its grip on tech companies and they have been working on measures to comply with government regulations. One of the recent moves by the government is to rectify irregular practices of “self-media” accounts publishing financial information, with a number of leading tech companies joining hands.

According to multiple reports, the Chinese government last Friday launched a campaign to crack down on citizen journalists or “self-media” who misinterpret economic policies and forecast doom and gloom in financial markets. “Self-media” accounts are independently operated public social media accounts on WeChat and Weibo. Many of them have been accused of spreading rumours and using fake news to blackmail companies.

The Cyberspace Administration of China said these “self-media” accounts seriously disrupted the order of information dissemination on the internet. It said it will look into accounts that have repeatedly and illegally released financial news, distorted economic policy interpretation, badmouthed financial markets, spread rumours and disrupted network communications.

In response to the government’s demand, Chinese social media platforms WeChat, Douyin, Kuaishou and Sina Weibo said on Saturday that they will start rectifying irregular practices involving publishing financial information on their platforms.

On Saturday, WeChat said it will instantly shut down financial “self-media” accounts that are found to be involved in badmouthing financial market, and blackmailing and spreading rumours that spark strong public anger. The other three platforms also announced a similar action with all of them targeting financial “self-media” accounts’ violations. The Global Times said Sina Weibo will also severely punish accounts in violation of relevant rules and keep the public updated on the process in a timely manner as it will actively guide the construction of a healthy and orderly internet environment.