China's NetEase to rectify "irregular practices" at finance website
(Adds details, context)
BEIJING, Sept 11 (Reuters) - Chinese internet company
NetEase said on Tuesday it would stop updating its
finance website from today to rectify what it called "irregular
practices" and conduct a "comprehensive correction."
The announcement from the Nasdaq-listed company comes as the
Chinese government is ramping up a campaign to regulate online
media with tighter licensing rules and censorship.
NetEase said its finance site had encountered problems and
the firm had conducted a "serious self-criticism and
introspection" and would work with other platforms to "create a
clean and upright cyberspace."
NetEase did not specify the problems in its statement posted
on the company's portal site. The company declined to comment
further after being contacted by Reuters.
The NetEase portal site is known for its outspoken opinion
pieces and a freewheeling comments section, where popular posts
are widely circulated online.
The Guangzhou-based company has a market capitalization of
nearly $25 billion and provides services in online gaming,
advertising and e-commerce.
Chinese internet users speculated that NetEase's problems
may be linked to an online opinion piece that argued for lower
income taxes, which appeared to run against government goals to
raise more tax revenue.
The Chinese government maintains strict censorship of news
sites and media platforms.
In April, a government watchdog forced the closure of an app
controlled by the news site Toutiao due to "vulgar and improper
(Reporting by Pei Li and Ryan Woo
Editing by Darren Schuettler)
First Published: 2018-09-11 09:59:33
Updated 2018-09-11 11:58:30
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