China reporter confesses to stoking market ‘panic and disorder’

31 Aug 2015 | Author: | No comments yet »

Hundreds arrested as Beijing launches stock market crackdown.

Hong Kong (CNNMoney) — Chinese authorities have arrested nearly 200 people for alleged online rumor-mongering about China’s stock market turmoil and a recent, deadly chemical factory explosion in Tianjin. Among the arrested is Wang Xiaolu, a journalist for financial publication Caijing Magazine, “who has been placed under ‘criminal compulsory measures’ for suspected violations of colluding with others and fabricating and spreading fake information on securities and futures market,” according to Chinese state media. China’s government frequently censors information — domestic media is heavily state-controlled, and social media sites such as Google and Facebook are blocked online. Earlier this month, a number of deadly explosions occurred at a chemical storage warehouse in Tianjin, a major port city on the northeastern coast of China.

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