SINA Corp (SINA): The Impact of China’s Anti-Porn Crackdown

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SINA Corp (SINA): The Impact of China’s Anti-Porn Crackdown

SINA Corp (NASDAQ:SINA) shares tanked 6.76% On Friday to close at $48.15 amid China’s anti-porn crackdown. According to Xinhua News Agency, Chinese government is going to suspend SINA’s Internet publishing license and the audio/video program transmission license. The Shanghai-based Internet giant is ‘accused’ of disseminating pornographic content on its websites.

Authorities found 4 inappropriate videos and 20 articles on SINA websites

The investigation into SINA Corp (NASDAQ:SINA)’s websites in part of the Chinese government’s “Cleaning the Web 2014” campaign against online pornography. The National Anti-Pornography Office has closed thousands of user accounts and hundreds of websites as part of the crackdown. The authorities have found four pornographic videos and 20 articles on Sina.com. The media and Internet are highly censored on China. Facebook Inc (NASDAQ:FB) and Twitter Inc (NYSE:TWTR)’s services are banned in the world’s most populous nation.

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