Do not cause panic and do not use emotionally charged words like “slump”, “spike”, or collapse”. Those were just some of the guidelines handed out by Chinese authorities to media outlets on how to cover the stock market, according to China Digital Times.
The instruction came after China’s stock exchange plunged by 30 percent last week. The plunge wiped out trillions of dollars worth of market value in just three weeks. The stock market was frozen after trading on $2.6 trillion worth of shares were suspended.
According to CDT website, the directives – which were issued by the State Administration of Press, Publication, Radio, Film and Television (SAPPRFT) – called on all media outlets to substantially cut down on coverage of the stock market, and to only report information released by the country’s securities watchdog, the China Securities Regulatory Commission.
Radio and television stations must substantially cut down on coverage of the stock market and strictly observe the following rules：
- Necessary coverage of the stock market must be completely balanced, objective, and rational. Do not join the chorus of the bull or bear market. Rationally lead market expectations to prevent inappropriate reports from causing the market to spike or crash.
- Without exception, discontinue discussions, expert interviews, and on-site live coverage. Do not conduct in-depth analysis, and do not speculate on or assess the direction of the market. Do not exaggerate panic or sadness. Do not use emotionally charged words such as “slump,” “spike,” or “collapse.”
- Strictly report according to information released by the China Securities Regulatory Commission. Resolutely avoid promulgating false information.
- Programs on securities must be produced and broadcast by the broadcast organization. Do not rent or transfer time slots, do not broadcast programs produced by consulting organizations, and do not embark on commercial ventures with consulting organizations. (June 23, 2015)
1，必要的股市报道要做到 全面平衡、客观理性，不集中唱多，不合力唱空，合理引导市场预期，防止因报道不当 引起股市大涨大跌。
In addition to this, the guidelines said that stock market coverage needs to be “completely balanced, objective, and rational”, there should be no interviews with experts, no live on-site coverage, and reports should be “rationally lead” in order to prevent and spike or crash in the market.
China Digital Times says that the wording and dates of directives leaked to them may not be exact as they are sometimes communicated orally to journalists and editors.