Chinese government freeze the account of a well-known market analyst Hong Hao after criticizing economic situation and government policies.
The freeze action was carried out after Hong Hao sent an upload about the outflow of foreign capital (capital outflow) which is large from that country. He also forecasts a decline in the Chinese stock market on social media.
“All content has been blocked. Users are prohibited from using the account,” wrote a notification on Hong Hao’s WeChat account, quoted from CNN on Monday (2/5).
The notification also said Hung Hao’s account had “violated” government internet rules without elaborating. WeChat also doesn’t show which uploads resulted in the freeze.
Hong Hao’s account on social media Weibo has also been deleted. In fact, he has more than three million followers on the account.
Hong Hao is managing director and head of research at BOCOM International of the Bank of Communications. It is the state-owned bank and the fifth largest in China.
Policy lockdown The COVID-19 implemented by the Chinese government has had a major impact on the country’s economy. The latest government survey data showed activity across manufacturing and services slumped to its lowest level since February 2020.
Beijing’s zero-Covid policies to crackdown on giant technology companies have also prompted foreign investors to flee their capital from China. It was called unprecedented in recent months.
China’s leader has repeatedly reassured in recent days about the economy’s improvement.
President Xi Jinping called for infrastructure spending to boost growth, while the Communist Party on Friday pledged “measured steps” to support the internet economy.
Meanwhile, China has stepped up its scrutiny of social media after the public’s increasingly skewed response to the policy lockdown.
Reported from CNN, Weibo announced to its users that they will start publishing IP locations on their account pages and when they upload comments. It was claimed as an attempt to combat “bad behavior”.