China: Cyberspace Administration of China issued ruling in investigation into misleading financial information on online platforms

On 24 May 2025, the Cyberspace Administration of China (CAC), in coordination with financial regulatory authorities, ruled on an investigation addressing online financial information misconduct. The action resulted in the removal of multiple accounts and websites for spreading false information about capital markets, promoting illegal stock recommendations, encouraging virtual currency speculation, and disseminating misleading financial rights defence content. The enforcement targeted Weibo, Douyin, WeChat, Zhihu, Xiaohongshu, and Baidu Baijia accounts, as well as websites offering access to foreign cryptocurrency trading platforms. The CAC stated that these activities violated platform rules and legal requirements, disrupted market order, and harmed the legitimate rights of financial institutions and consumers. The Authority urged users to strengthen their ability to identify false financial content and to avoid illegal financial activities. Further enforcement and public reporting mechanisms will continue.