NEW YORK, NY -- (Marketwire) -- 01/05/12 -- Battered down in 2011, Chinese internet stocks kicked off the New Year on the upswing as encouraging economic data from China curbed growth fears -- at least for one day. Earlier this week, Chinese Premier Wen Jaibao said business conditions may be "relatively difficult" in the first quarter and monetary policy will be fine-tuned as needed. The Paragon Report examines investing opportunities in China's Internet Sector and provides equity research on Baidu, Inc. (NASDAQ: BIDU) and Sina Corporation (NASDAQ: SINA). Access to the full company reports can be found at:
As reported earlier this month in The Wall Street Journal, China's Ministry of Industry and Information Technology (MIIT) has released new regulations covering competitive practices in the country's Internet industry. MIIT issued the rules to curtail poor business practices in one of China's less regulated sectors, which is currently dominated by non-state-owned companies that would accuse competitors of unfair practices in order to gain an upper hand in the industry, The Wall Street Journal reports.
The rules, which take effect March 15, will help "create a favorable environment for information services," Li Guobin, an inspector in the MIIT's politics and law section, said in a statement on the ministry website.
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In late 2011, Sina Corporation announced that the Beijing Municipal Government issued new rules on microblogging. Sina Corporation explained that the Beijing Municipal Government issued the Rules on the Administration of Microblog Development. The Rules, among other things, require users of microblogging services to register their identities with microblogging service providers. According to Sina Corporation, "these procedures will be carried out at the backend, which would not affect the account name of microblogging users, and will not apply to 'read-only' users."
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