China is mandating local reporters avoid using the term ‘cash crunch’ in their stories, reports Financial Times reporters Jamil Anderlini and Simon Rabinovitch.
Steven Perlberg of Business Insider writes, “Reporters were warned not to ‘hype’ stories about liquidity issues, according to the FT.”It’s actually an unusual move for China. As the FT notes, the government rarely interferes with financial journalism in order to bolster the impression that Chinese markets are just as open and reliable as its developed market contemporaries.
“But overall, China famously hates negative press. The country has reportedly refused to renew visas for about two dozen New York Times and Bloomberg reporters after stories from the organizations shed light on the wealth of elite Chinese families.”
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