China no longer tolerates online criticism of the economy | Financial

The authorities want to put an end to practices by people who would speak ill of China’s financial markets and domestic policies and misinterpret economic data.

Interpretation errors

In a statement, the Chinese cybersecurity regulator speaks of a new two-month campaign. It will also target Chinese who publish foreign media reports or commentary that misinterpret domestic financial topics “without taking a position or making a judgment.”

Websites and internet platforms can be ordered by the authorities to remove cases or close accounts. The action should lead to a “benign” internet environment. That would be good for a ‘sustainable and healthy development’ of the Chinese economy and society.

Addiction

It was already announced this week that the Chinese authorities also want to come up with rules in the field of the algorithms that tech companies use. Those algorithms determine, among other things, which videos and other content are recommended to consumers. Among other things, the new rules would prohibit practices that “encourage addiction or high consumption.” Beijing has for some time been tackling the dominant position of large tech companies with stricter regulations.

—