(FiveNation.com)- According to Reuters, Chinese censors eliminate videos, messages, and hashtags relating to demonstrations over mortgage payments from Chinese social networking sites such as Douyin and Weibo.
A Chinese app similar to TikTok called Douyin has removed videos filmed by demonstrators and their sympathizers in the Chinese provincial capitals of Wuhan, Nanchang, and Zhengzhou because the videos did not “clear examination.”
According to reports, demonstrators are furious that they are being forced to pay mortgages and other debts on houses that won’t be completed on schedule. This is because building delays have impeded the completion of housing.
Reuters reports that “orders from above” have resulted in officials at developers associated with the housing issue being cautioned not to speak to the press, even off the record.
A report in the WSJ says to put a stop to the demonstrations, several financial institutions have met with clients or provided them with financial assistance.
According to a person present at the meeting, a sit-down was conducted between several Hubei demonstrators and four unidentified state-owned banks.
In the meantime, a homeowner in Zhengzhou who did not wish to be identified shared with the WSJ that Shanghai Pudong Development Bank had advised him that he would only be required to pay the interest on his mortgage for the upcoming year. In addition, the WSJ notes that the Zhengzhou branch of the Industrial and Commercial bank of China is now providing customers with the option to extend their loans for up to six months.
According to Reuters, President Xi Jinping prioritizes maintaining social order as he prepares for what is widely expected to be his re-election at the 20th Congress of the Communist Party later this year. As a result, he is especially wary about this problem.
A request for comment was sent to both ByteDance, the company that controls Douyin, and Weibo, but neither immediately responded.
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