A Chinese journalist admitted to spreading false information that led to “panic and disorder” at China’s stock market, according to reports by state-run news agency Xinhua. Wang Xiaolu, a journalist for Caijing magazine, wrote a story in July that said the securities regulator was studying plans for government funds to exit the market, which China Securities Regulatory Commission denied and called “irresponsible.” Caijing magazine said in a statement posted on its website it “defended journalists’ rights to do their duty under the law.”
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