Youku and Sohu Aim to Appease Strict Chinese Authorities
November 28 2011 - 8:16AM
Marketwired
The Chinese internet sector has been hectic of late as the
regulatory risk for Chinese Internet stocks is increasing and has
been on the upswing for the last couple of months. According to
China's Central Committee, the Communist Government will
"strengthen guidance and management over social networks and
instant messaging tools, regulate online information distribution,
and cultivate a civilized, rational Internet environment." The
Bedford Report examines the outlook for companies in China's
Internet Sector and provides stock research on Youku.com, Inc.
(NYSE: YOKU) and Sohu.com, Inc. (NASDAQ: SOHU). Access to the full
company reports can be found at:
www.bedfordreport.com/YOKU www.bedfordreport.com/SOHU
China is the world's largest internet market with an estimated
500 million users. The Chinese government routinely blocks citizens
from viewing searches and websites it deems subversive under the
Golden Shield Project or Great Firewall.
Earlier this month the Chinese Government gained the agreement
of major Chinese businesses, including search engine firm Baidu and
e-commerce giant Alibaba, to increase their own censorship actions.
According to official Chinese media, the firms agreed to "curb
rumours" and the spreading of "harmful information."
The Bedford Report releases investment research on the Chinese
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Last month China's ruling Communist Party said it will
strengthen management of online social media sites that have
increasingly questioned government action. Members of the party's
Politburo visited web companies after a deadly train crash in July.
Web users criticized the government's handling of the crash and
spread commentary of the accident at odds with the official
line.
Bill Bishop, a Beijing-based independent Internet analyst, told
Bloomberg that the danger for companies is that increased
government oversight of content at sites such as Sina's Weibo may
lead to fewer outspoken people using the platforms over time,
"basically deadening the community." Xinhua reported that China had
195 million microbloggers at the end of June, more than a 200
percent increase from the end of 2010.
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