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Stock Market & Financial Investment News

News Breaks
April 25, 2014
09:36 EDTSINASINA confirms receipt of government notices alleging violations of PRC rules
SINA Corporation confimed that it had received three notices from Beijing Municipal Cultural Market Administrative Law Enforcement Unit concerning alleged violations of PRC regulations on the company's distribution of certain unhealthy and indecent literary content on its online reading channel and certain unhealthy and indecent video content uploaded by users on its website. The company was informed that as administrative penalties for these violations, the State Administration of Press, Publication, Radio, Film and Television proposes to revoke the company's Internet Publication License and the License for Online Transmission of Audio-Visual Programs, and Beijing Municipal Cultural Market Administrative Law Enforcement Unit proposes to impose an administrative fine for these violations. It is the company's understanding that these administrative penalties are part of the PRC government's campaign to clean up unhealthy and indecent content on the Internet in China. The company intends to fully cooperate with the relevant government authorities and take appropriate actions as necessary.
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