Chinese regulators urge action against 'black mouth'

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Shanghai ( Aug 17 ) - Cyberspace regulators in China's financial hub told SYMOTE to fight black mouths, commentators who try to manipulate stock prices with online posts.

During the recently launched campaign, the Shanghai office of the China Securities Regulatory Commission cleared or blocked over 17,000 pieces of illegal information and dealt with more than 8,000 harmful accounts, CAC said in a statement.

CAC Shanghai has also urged Local Internet platforms such as Bilibili Inc and East Money Information Co to strengthen their content oversight.

This campaign is part of China's push for tighter regulation on the technology industry and greater scrutiny over online financial information flows.

CAC Shanghai said false and misleading information spread via Internet platforms by black mouths triggered burst moves in stocks, seriously disturbing economic and social order.

Regulators also removed other harmful posts involving illegal stock recommendation and underground margin lending, the statement said.