Economy

The Cyberspace Administration of China is cracking down on the chaos of online financial information

2026-04-17   

Recently, the Cyberspace Administration of China, together with relevant departments, has lawfully dealt with a batch of accounts that publicly recommend individual stocks, induce participation in group stock recommendations, and sell illegal stock recommendation software. Specifically, accounts such as' Zhang Ge Rolling Snowball 'publicly recommend individual stocks and incite follow the trend operations. The Weibo account "Brother Zhang Rolling the Snowball", the WeChat official account "Brother Desperate", and the Xiaohongshu account "Brother Hai Catching the Dragon" recommend individual stocks to netizens and incite to follow the trend of operation by creating a staff of investment experts to publish profit screenshots, share stock speculation skills, and publish the actual operation. The account involved has been lawfully and contractually closed. Accounts such as "Go Investment Research" induce netizens to join groups and engage in illegal stock recommendations. Snowball account "Weiqi Investment Research", Weibo account "Xu Wenchen", Bilibili account "Zhong Li 4723" and others use "insider information", "guaranteed profits" and "expert recommendations" to lure netizens to join groups for illegal stock recommendations, with some groups having high joining fees. The account involved has been lawfully and contractually closed. Accounts such as' Fengfeng Catcher 'sell illegal stock recommendation software and exaggerate false advertising. Kwai account "Tuolui Catcher", "Caijing Qijie", "Ke Nan Exploring Stocks" and others recommend "efficient AI stock selection software" or so-called "stock recommendation software" with good stock selection model and accurate price trend prediction in the live broadcast room, to induce netizens to pay for their services. The accounts involved have been dealt with in accordance with the law and the agreement. This is not the first time that the Cyberspace Administration of China has taken action to deal with illegal accounts related to the capital market. At the end of last year, the Cyberspace Administration of China, together with the China Securities Regulatory Commission, conducted a thorough crackdown on false information related to the capital market online, and lawfully dealt with a batch of accounts that fabricated rumors and illegally recommended stocks. Some of these accounts spread rumors related to capital market regulatory policies; Some speculate on the trend of the stock market, predict its ups and downs at will, and gain traffic; Some illegally recommend stocks, seek profits, and have been shut down or banned. The capital market has strong information sensitivity. Some accounts use stock market topics to hype up traffic and attract attention, making unfounded predictions about stock market trends and positions, misleading public perception, and affecting market operations. They will be punished by law. The Cyberspace Administration of China reminds netizens to establish a rational investment concept, enhance risk prevention awareness, strengthen financial information identification, stay away from and resist various illegal financial activities, and effectively safeguard their own property safety. (New Society)

Edit:He Chuanning Responsible editor:Su Suiyue

Source:Securities Daily

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