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Online influencers in China now require relevant licences to talk on subjects like finance, medicines, law and education. This means that social media influencers can no longer discuss and advertise stocks, mutual funds or any other investment product without taking permit from the administration.
The order is part of 'Code of Conduct for Internet Influencers' issued by China's Ministry of Culture and Tourism.
The ill-use of their following by online influencers has raised eyebrows across the globe. There have been several instances when people have lost money by investing under the influence of their favourite online celebs. No just financial health, there have been several reports when people have risked their physical health by listening to influencers, especially during covid.
China has been most pro-actively trying to regulate what can and can't be shown or spoken about online. The country has also proposed a law which will require online content publishers to vet user comments before publishing.
