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. Last Updated: 07/27/2016

China Tightens Grip on Data

SHANGHAI -- Police and Communist Party officials have been given wide powers to control the spread of information about the Shanghai Stock Exchange under regulations published Thursday.


Although the rules do not specifically say what can and cannot be published or broadcast, they aim to enforce greater supervision over the media.


Even brokerage research is subject to the "Rules Concerning the Management of Information on the Stock Market." Drafted by city authorities, the regulations are the first of their kind in China.


Shanghai authorities are investigating the source of rumors about the health of China's paramount leader, Deng Xiaoping, that sent the market tumbling by 40 percent around the Oct.1 National Day.


The rules state: "Broadcasting stations, news agencies, newspapers and magazines must report all securities' news according to the principles laid down by authorities in charge, according to the rules."