China Internet on Watch as Gov't Looks to Tighten Reins (SINA) (BIDU) (DANG)
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Chinese Internet stocks are on watch today following word that China might tighten its grip on the web following a few exposes on government corruption.
According to the WSJ, citing Xinhua news agency, China's National People's Congress may move to require users use their real names while online.
In addition, China's publishing regulator might stop foreign companies from publishing material on the Internet in China. Those rules are already in place, though officials have been lax in enforcement.
China is currently the world's largest Internet market, with about 538 million users. Foreign media outlets generally use servers that reside outside of China.
The move might impact the likes of Sina Corp (Nasdaq; SINA), Baidu (Nasdaq: BIDU), E-Commerce China Dangdang (NYSE: DANG), Sohu (Nasdaq: SOHU), and Renren (NYSE: RENN), among many others.
According to the WSJ, citing Xinhua news agency, China's National People's Congress may move to require users use their real names while online.
In addition, China's publishing regulator might stop foreign companies from publishing material on the Internet in China. Those rules are already in place, though officials have been lax in enforcement.
China is currently the world's largest Internet market, with about 538 million users. Foreign media outlets generally use servers that reside outside of China.
The move might impact the likes of Sina Corp (Nasdaq; SINA), Baidu (Nasdaq: BIDU), E-Commerce China Dangdang (NYSE: DANG), Sohu (Nasdaq: SOHU), and Renren (NYSE: RENN), among many others.
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