During last month’s plunge in stocks the Chinese government reportedly gave state-run media outlets a four-point brief, stipulating they must substantially cut down coverage of the stock market.
According to the China Digital Times, the rules — supposedly issued by the government and subsequently leaked — were as follows:
- Necessary coverage of the stock market must be completely balanced, objective, and rational. Do not join the chorus of the bull or bear market. Rationally lead market expectations to prevent inappropriate reports from causing the market to spike or crash.
- Without exception, discontinue discussions, expert interviews, and on-site live coverage. Do not conduct in-depth analysis, and do not speculate on or assess the direction of the market. Do not exaggerate panic or sadness. Do not use emotionally charged words such as “slump,” “spike,” or “collapse.”
- Strictly report according to information released by the China Securities Regulatory Commission. Resolutely avoid promulgating false information.
- Programs on securities must be produced and broadcast by the broadcast organization. Do not rent or transfer time slots, do not broadcast programs produced by consulting organizations, and do not embark on commercial ventures with consulting organizations.
According to the report, the rules were issued on 23 June, halfway through the massive markets plunge.
You can read more here.
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