Year to date, the Cyberspace Administration of China (CAC) has thoroughly implemented the work arrangements of the Chinese central government, maintaining a high-pressure crackdown on online financial information chaos, Chinese media reported.

Together with relevant units, the CAC has dealt with a number of accounts on platforms such as Douyin, KUAISHOU-W (01024.HK)  -0.600 (-1.476%)    Short selling $181.63M; Ratio 22.641%   , WB-SW (09898.HK)  -1.600 (-2.204%)    Short selling $31.26K; Ratio 1.238%   and WeChat, which engage in illegal stock recommendations and illegal financial intermediary activities.

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The authorities will clean up misleading and deceptive information in the financial sector and increase penalties for websites and accounts that engage in unlicensed financial-related business.

The CAC warned that some illegal financial activities currently use “debt restructuring” and “debt optimization” as a pretext to charge “cut-off interest” to heap the burden on debtors. Some use phrases such as “zero threshold”, “zero interest” and “fast payment” to induce people to borrow blindly.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-01-08 16:25.)