Stock market Photo:VCG

China's top cyberspace regulator will ban a series of financial self media accounts that involve irregular practices such as publishing financial news in violation of relevant regulations, distorting economic policy, badmouthing China's financial market and spreading rumors that seriously disrupt internet order and lead to public outrage. 

It is part of a campaign to create a clean internet environment and rectify violations by self media accounts starting from Friday. The campaign covers self media accounts related to financial news, WeChat official accounts, finance columns by major business internet platforms and major platforms for financial news. 

Under the campaign, self media accounts that distort China's financial policy and macro economic data, and accounts that maliciously spread pessimistic views on China's financial market and economy will be banned. Also, media accounts that share foreign media reports on China's financial industry that are not verified will be penalized. 

Accounts that hype "exclusive news" and "inside information," some of which even make up and spread rumors, as well as those that speculate in the property market and try to boost share prices will be banned.

Furthermore, media accounts that use negative information as threats and for blackmail will also be punished. 

Global Times