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Shanghai authorities have removed over 40,000 posts across social media platforms for spreading fear about China's property market and misrepresenting housing policies. The crackdown, which started in mid-November, also penalized more than 70,000 real estate accounts and 1,200 livestream channels, including cases where AI-generated property images were presented as real. The move comes amid a prolonged property slump since 2021, with unpaid debts and incomplete presold homes undermining consumer confidence. Officials stressed the need to prevent online panic from escalating into wider criticism of the government.
The Shanghai branch of China's cyberspace regulator has removed thousands of online posts that it said were spreading fear about the real estate market and misrepresenting housing policies. Since mid-November, over 40,000 posts on social media platforms, including the Instagram-like RedNote and video-sharing site Bilibili, were taken down as part of this action, which involved the city's housing bureau and internet police. Advertisement
The crackdown also resulted in penalties for more than 70,000 real estate accounts and 1,200 livestream channels, according to the Shanghai Cyberspace Administration of China (CAC). Officials noted that some accounts were sharing AI-generated images of properties as if they were real, which contributed to misinformation online.
China's property sector has been in decline since 2021, with multiple developers failing to repay debts or complete presold homes. This downturn has affected consumer confidence and household spending, and government measures to revive the market have faced limited success.
Authorities have emphasized that online panic or critical commentary about the property market could trigger broader criticism of the government. In a recent Politburo study session, President Xi Jinping instructed officials to act decisively against networks spreading misconduct online, and to use artificial intelligence to enhance regulation of cyberspace. This is part of a broader trend under Xi to maintain strict control over online discourse, particularly on economic issues and slower post-pandemic growth.
The ongoing efforts in Shanghai reflect both regulatory caution and the government's sensitivity to public sentiment surrounding real estate. Analysts note that controlling online narratives is intended to stabilize the housing market and prevent further erosion of consumer confidence.
Source Reuters
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