Chinese social media platforms to "rectify" financial self-media accounts

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SHANGHAI (Reuters) - China's top social media platforms, Wechat, Douyin, Sina Weibo and Kuaishou, said on Saturday they would begin to rectify irregular practices of "self-media" accounts that publish financial information, reported state media Global Times.
This follows an announcement by China's cyberspace regulator, the Cyberspace Administration of China (CAC), that it would look into accounts that have repeatedly released financial news illegally, distorted economic policy interpretation, badmouthed financial markets, spread rumours and disrupted network communications.
The term "self-media" is mostly used on Chinese social media to describe independently operated accounts that produce original content but are not officially registered with the authorities.
Wechat said in a statement on Saturday that from now until Oct. 26, it would investigate and shut down financial self-media accounts that "badmouth the financial market" and "blackmail and spread rumors."
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