<%@LANGUAGE="VBSCRIPT" CODEPAGE="1252"%> WorldTribune.com: Mobile — Beijing limits coverage of U.S. financial crisis by state media, websites
Beijing limits coverage of U.S. financial crisis by state media, websites

Friday, September 26, 2008 Free Headline Alerts

China’s government-run media have provided only limited reporting on the U.S. financial crisis.

In the first five days of the crisis, which began with the bankruptcy of the financial giant Lehman Brothers, China’s state-run media produced only limited and restrained reaction, and there was almost no reporting on what the Chinese government might do in response.

Chinese stock shares fell 3 to 4 percent, while bank shares dropped nearly 10 percent, according to several reports carried by Xinhua, China's official news agency.

On September 17, Chinese Vice Premier Wang Qishan was quoted on China's official television station CCTV1's website as saying that "against the backdrop of continuing international economic and financial instability," it is of "increasing importance" that China and the United States "strengthen cooperation."

Xinhua reported the same day that the China Insurance Regulatory Commission (CIRC) was "evaluating the domestic impact" of the "turmoil in U.S. financial markets," and would closely monitor developments "to protect the interests" of domestic policyholders.

The Chinese government's Propaganda Department warned major financial websites to avoid posting negative and sensitive commentaries, reports and headlines about financial markets, according to the South China Morning Post.

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