China Suspends Popular Financial News App Wallstreetcn Over Violations
Chen Juan
/SOURCE : yicai
China Suspends Popular Financial News App Wallstreetcn Over Violations

(Yicai Global) June 11 -- Regulators in China ordered financial information provider Wallstreetcn to suspend its website and widely used app because of violations. It is the second time in three months that the news aggregator has been penalized.

Wallstreetcn will conduct a self-examination in accordance with relevant laws and regulations and improve management in order to resume services as soon as possible, it said in a statement posted on Weibo late yesterday. The statement did not reveal any reasons for the punishment.

A Shanghai regulator fined Wallstreetcn's operator, Shanghai Aniu Information Technology, in March for not having a license to publish online news. The watchdog met with the firm's head and ordered it to stop violations and carry out rectification in accordance with relevant laws and regulations.

Founded in 2010 by financial media professional Wu Xiaopeng, Wallstreetcn provides timely financial news to users every day. The firm has completed three rounds of financing. A B round that raised CNY100 million (USD14.5 million) was completed in 2016 and led by China Media Capital, public information shows.  

Follow Yicai Global on
Keywords: Wallstreetcn.com , Shanghai Aniu Information Tech Co.