China stops online video streaming, jolting investors

23 June 2017, 04:08 PM
China stops online video streaming, jolting investors (Source: PTI)
China stops online video streaming, jolting investors (Source: PTI)

In response to censors' complaints regarding improper comments about sensitive issues, three popular Chinese internet services have been ordered to stop streaming video. The move prompted a sell-off in the US-trade shares of Sina Corp. and its microblog service, Sina Weibo.

Authorities said on Thursday video streamed by users of Sina Weibo, ACFUN and a website of Hong Kong-based Phoenix TV contained "negative comments" about unspecified sensitive issues.

Communist leaders promote internet use for business and education but operate extensive censorship aimed at blocking access to material deemed subversive or obscene. Internet companies are required to enforce censorship by removing postings about politically sensitive topics.

Read more: After overtaking Apple, Samsung in China, Oppo eyes West

Sina Weibo shares fell 6.1 per cent on the Nasdaq market and shares of Sina fell 4.8 per cent.

First Published: Friday, June 23, 2017 03:49 PM
For all the latest World News Download the News Nation App available on Android and iOS.