[Epoch Times October 15, 2021](Epoch Times reporter Li Jing comprehensive report) Recently, the Chinese Communist Party has tightened its control over financial information, which has aroused the attention of the outside world. The Shanghai Securities Regulatory Bureau recently issued a notice requiring brokerages within its jurisdiction to strengthen the control of employees’ use of WeChat, Weibo and other self-media tools to conduct business activities. In addition, the notice also mentioned that Cai Junyi, the former chief market analyst of Shanghai Securities, was criminally detained by the police.
Recently, the Shanghai Securities Regulatory Bureau issued the “Notice on Regulating Securities Practitioners to Use We-Media Tools to Carry out Business Activities” to securities firms within its jurisdiction. The Shanghai Securities Regulatory Bureau requires securities companies within its jurisdiction to conduct self-examination and strengthen the control of employees’ use of self-media tools to conduct business activities.
In addition, the Shanghai Securities Regulatory Bureau requires the establishment of a sound institutional system for conducting business activities using WeChat, Weibo, Douyin and other self-media tools. The government requires securities analysts to take the initiative to file the chat groups, self-media accounts, cloud sharing platform accounts, etc. used by them in connection with the provision of securities research report services, and check the reporting conditions on a regular and irregular basis.
The government also requires brokerages to strengthen daily monitoring of employees’ use of self-media tools to carry out business activities, focusing on preventing the situation of privately speaking in the company’s name, naming company positions, or in ways that may easily lead to misleading identities.
CCP strictly controls well-known analysts in securities industry detained
The aforementioned notice also mentioned that the Shanghai Securities Regulatory Bureau has recently been concerned about the criminal detention of an analyst from a securities company in its jurisdiction for “suspicion of fraud.” This matter was related to the analyst’s improper use of self-media tools to carry out business activities.
“China Securities Journal” reported that the supervisory authority’s voice may be related to Cai Junyi, the former chief market analyst of Shanghai Securities, who was taken away by the police for investigation.
Public information shows that Cai Junyi used to be an “net celebrity analyst.” According to the official WeChat account of Shanghai Securities, Cai Junyi had previously served as assistant to the director of the Shanghai Securities Research Institute, chief market analyst, CPA, Fudan EMBA, and was also a special guest of many TV stations.
After Cai Junyi’s accident, major platforms such as TV, Douyin, Station B, and WeChat have urgently removed relevant content.
“China Fund News” reported on September 14 that Cai Junyi, assistant to the director of the Shanghai Securities Research Institute and chief market analyst, has been removed from his post. According to informed sources, Cai Junyi should have been arrested in July this year. A person familiar with the matter said that the specific reason has not been announced by the police, “maybe it is related to the live broadcast diversion and promotion of virtual currency.”
On the 8th of last month, the Shanghai Securities Regulatory Bureauās website issued an announcement stating that in the special rectification of online information on securities and futures activities, more than 17,000 pieces of information were deleted and intercepted by the main territorial websites, and 3,187 audio and video albums and programs were removed from the shelves. More than 8,000 accounts were disposed of, and 53 live broadcast rooms were closed.
The official also said that individuals and institutions that have not been certified are prohibited from publishing content in financial and financial fields such as investment and financial management.
Expert: CCP fears that economic fraud will be exposed
In fact, the regulatory authorities of the Chinese Communist Party have long stipulated that securities analysts use self-media to conduct business activities.
As early as May last year, the Securities Association of China organized amendments to the “Practice Standards for Issuing Securities Research Reports” and the “Code of Conduct for Securities Analysts” to strengthen the self-discipline management of operating institutions and securities analysts from several aspects.
It mentioned that it is necessary to strengthen the management of analystsā speech, use of self-media and customer service, and standardize analystsā practice behavior. Regularly arrange compliance reviewers to enter the chat groups of securities analysts to carry out customer service, and conduct random checks on their published content.
On August 27 this year, the Chinese Communist Party authorities launched a special rectification of the Qinglang commercial website platform and the “We Media” illegally collecting, editing and publishing financial information. The first phase ended on October 26. In this round of operations, four types of financial “self-media” accounts, major public account platforms, major commercial website platforms, financial sections, and major financial information platforms have become key targets.
The authorities claimed that the news released by these financial accounts “distorted and interpreted” the CCP’s financial policies, macroeconomic data, “singed out” the Chinese financial market, “singed badly” the Chinese economy, etc.; in addition, there were accounts reprinted to convey overseas interpretations of China’s financial sector. Hot reports, comments, etc.
In addition, Chinese social platforms such as Weibo and Tencent actively cooperate with the authorities’ suppression policies. On September 1, Sina Weibo released the rectification situation and dealt with the first batch of 52 accounts that were blocked.
After cracking down on self-media accounts, the authorities began to rectify private news organizations. On October 8, the Development and Reform Commission of the Communist Party of China issued a notice requiring non-public capital not to invest in the establishment and operation of news organizations; non-public capital may not introduce news published by overseas entities; non-public capital may not hold forums, summits and awards in the field of news and public opinion.
The government also requires that non-public capital must not engage in live broadcast of activities and events involving politics, economy, military, diplomacy, major social, cultural, scientific and technological, health, education, sports, and other related political directions, public opinion orientations, and value orientations.
Xie Tian, āāa chair professor at the Aiken School of Business at the University of South Carolina in the United States, said in an interview with Epoch Times that the CCP has always been afraid of being exposed to economic fraud. All these will make the CCP afraid because politics and economics have always been linked together.
Editor in charge: Sun Yun#
.