WeChat shuts down Bloomberg financial news account for regulatory violation

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As China clamps down on internet companies under tougher laws, social media platform WeChat has shut down a Bloomberg social media account, accusing it of violating the country’s regulations on public online accounts, they reported friday the middle

Tencent-owned WeChat said it had received “complaints” about Bloomberg’s “Daybreak” account, which posts global market updates, the South China Morning Post reports.

The account, which has been active since January 2021, has violated Chinese regulations, the Chinese platform said.

“All content has been blocked and the account has been suspended,” the message on the blocked account read, along with a link to regulations issued by the Cyberspace Administration of China.

The Bloomberg account posted its latest financial update last week.

It is not yet clear what content had caused the account to be closed.

Tencent and Bloomberg did not comment on the development.

Earlier this year, the public accounts of Hong Hao, the former head of research at Bocom International Holdings and an outspoken economist, were removed from both WeChat and Twitter-like Weibo.

Hong posted on Twitter that shutting down the “Daybreak” account could make “the mainland market increasingly misinformed and mispriced.”

With a crackdown on Internet companies, China has further tightened mobile app development rules with stricter content and data protection requirements.

“With the rapid development and wider use of mobile applications, new situations and issues continue to arise, requiring (the rules) to be revised and improved to accommodate new developments,” said last month the Cyberspace Administration of China.

China will soon establish a hierarchical data classification management and protection system.

–IANS

for/see

(Only the title and image for this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!