City’s internet regulators shut down 70,000 accounts in a ‘special campaign’ against pessimistic content as real estate jitters continue.

Shanghai has launched a crackdown on online content that talks down the property market, as the sector remains mired in a prolonged downturn and two leading data providers pull back on releasing updated sales figures for China’s top developers. The Shanghai branch of the Cyberspace Administration of China said it had instructed platforms including RedNote and Bilibili – often dubbed China’s answer to Instagram and YouTube – to remove content deemed to be spreading misleading or alarmist…

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