197 people detained in china for spreading rumours about the falling stock market, Tianjin explosions

Beijing: In China a total of 197 people were punished in a special campaign launched by the police who targeted the online rumors about China’s stock market about the fatal explosions in Tianjin or any other key events.

On Sunday the ministry of public security released a statement in which it claimed that 165 online accounts were closed for relevant violations.

In this statement it was explained that some people have been punished in the campaign expressed repentance over their misconduct that have caused panic and misled the public resulted in disorders in stock market or society.

There rumors about a man jumped to death in Beijing due to stock market slump, at least 1300 people were killed in Tianjin blasts and some other rumors like China’s upcoming commemorations of the 70^th Anniversary of the end of World War II.

It was also reported that some Chinese journalists and were also detained like a journalist of Chinese financial magazine for allegedly concocting and spreading wrong information related to the stock market and future trading. There were four executives who were also detained from citic securities company for alleged inside trading, forgery and receiving bribes.

In Sunday a reporter of Caijing Business new magazine, Wang Xiaolu was also arrested and he also confessed of collaborating with other people to fabricate information about securities and futures trading.

After the fall in Chinese stock market the Chinese Government is facing intense public scrutiny over its management of the economy and unstable markets. The public is also angry over the blasts at a hazardous chemical warehouse in Tianjin.

In this matter most of the people out of 197 are not been identified by the Government who are offenders according to the Government. Only Surnames of some people have been given and the government is claiming that four people who are identified by their surnames only have confessed and regretting for spreading false information.

So far the Government has been talking only about the detainment of 197 people and has not told about the punishment, only some online accounts have been closed.

China’s legislature has also passed a new law related to security asserting the nation’s sovereignty extends into cyberspace. The control over the domestic internet including codifying the power to cut access during public security emergencies has been tightening. The Government has also planned to embed cyber-security police units at major Internet companies and websites to prevent cries including fraud and spreading of rumors.