Censorship protection racket

People.cn

There’s a lot of money to be made by offering censorship services, at least if you’re China’s main state-owned newspaper:

While most global news companies are struggling to survive in the internet world, China’s official media is having a golden era.

One of the bright spots on the A-share market these days is People.cn, the online version of the People’s Daily, whose shares surged 243% in the past month to a four-year high.

In 12 of the last 15 trading sessions, the shares of the Communist Party mouthpiece surged to a daily limit of 10%. The Shanghai-listed company now has a market capitalization of 34.74 billion yuan (US$5.18 billion), or an incredible 380 times historic earnings. […]

People.cn is tasked with censoring the content of the online media from the major platforms operated by internet giants such as Baidu, Alibaba and Tencent.

This was virtually a licensed insurance business for online media in the age of increasingly tighter control from Beijing.

Apparently, People.cn charges service fees to the internet giants to help them scrub their platforms of content that might be offensive to the Party. Of course, this is a bit circular since People.cn is an organ of said Party. Nice website you got there… be a shame if anything happened to it.

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