Weibo, a popular Chinese microblogging website, decided to ban finance writers after commenting about the country's stock market.
One of these financial authors is Wu Xiaobo, a prominent Chinese writer focusing on the finance niche. With over 4 million followers on Weibo, he is considered to be among the most influential financial authors in China.
Aside from Xiaobo, two more financial authors (who were not named) were restricted by Sina Corp.'s Weibo. On Monday, June 26, Weibo explained why it banned these financial writers.
Weibo Bans Finance Writers After Commenting About China's Stock Market
According to Time Magazine's latest report, Weibo banned Xiaobo and two other financial authors because of their negative and harmful comments about the stock market of China.
The Chinese microblogging website put a banner on Xiaobo's official account, saying that the writer had been banned after he violated relevant regulations and laws.
Weibo added that Xiaobo and the two anonymous financial authors were spreading "smears' against China's development of the securities market.
Aside from this, the Chinese microblogging site also believed that the banned writers are creating content that hypes up the unemployment rate, as reported by NDTV.
Why Foreigners Are Concerned
Xiaobo is a trusted Chinese finance author who already published bestselling books on Tencent Holdings Ltd. He also writes for Caixin Global, which is a Chinese investigative journalism website in Beijing.
This means that Xiaobo is an established writer that provides essential information about the financial status of Chinese companies, as well as China's economy.
But, the financial insights shared by Wu on Weibo are no longer accessible since the Chinese website removed all his content starting in April 2022.
Since Weibo banned a prominent Chinese financial author from its website, many foreign investors are now concerned regarding access to independent financial information about China.
Although censoring online information is no longer new in China, the latest ban against Chinese finance writers is still quite concerning, especially since numerous reports stated that China's stock market is failing.
If you want to learn more details about the latest suspensions of Weibo against Chinese financial authors, you can click this link.
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