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China Asks Brokers to Tighten Control on Microblogs, Times Says

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April 22 (Bloomberg) -- China’s securities regulator asked brokerages to set up a system to better manage microblog accounts operated by the firms and their employees, the Securities Times reported today.

Securities firms should identify a contact person in charge of their websites and executives’ microblogs, the Securities Times reported, citing a notice issued by the China Securities Regulatory Commission and an unidentified official from the regulator.

The measure is aimed at ensuring that microblog users from the securities industry will act responsibly when sharing information on the Internet, the newspaper said. The press office of the securities regulator in Beijing didn’t immediately respond to a phone call and a faxed query seeking comments.

The increased popularity of social media such as Sina Corp.’s weibo microblog service in China, the world’s largest Internet market by users, is prompting greater scrutiny by the government. Chinese media regulator last week stepped up controls on news organizations’s use of social media, including barring the retransmission of content from overseas media and websites without permission.

The State Administration of Radio Film and Television also said that editorial employees must get permission to set up microblogs for work purposes and to release any information they acquire when on duty, according an article dated April 16 on the regulator’s online publication chinaxwcb.com.

To contact Bloomberg News staff for this story: Aipeng Soo in Beijing at asoo4@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net

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