Many Chinese are airing their dissatisfaction with the faltering economy and the dismal stock market on an unusual platform: the social media account of the US Embassy in Beijing.
The US embassy’s post on Friday on saving wild giraffes on Weibo, a Chinese site similar to X, drew 130,000 comments and 15,000 reposts as of Sunday, many of which were unrelated to animal conservation.
“Could you spare us some missiles to bomb away the Shanghai Stock Exchange?” one person asked in a repost of the article.
Another user commented that the Weibo account of the US embassy in China “has become the Wailing Wall of Chinese retail equity investors”.
The US embassy did not immediately reply to Reuters’ request for comment.
While Weibo users can make individual postings regarding the market and the economy, Chinese authorities frequently ban “negative” online comments that develop traction.
The comments feature on posts on the economy or markets on social media sites can likewise be disabled, or just certain comments can be displayed, limiting the avenues via which individuals can voice their ideas.
China’s blue-chip CSI300 Index fell 6.3% last month, hitting five-year lows, as a slew of government assistance measures failed to boost confidence, which had been battered by a multi-year housing downturn, sluggish domestic demand, and deflationary pressures.
State media stated in late January that China will take further “forceful” steps to boost market confidence following a cabinet meeting headed by Premier Li Qiang.
Chinese officials have subsequently increased their attempts to soothe investors, giving out optimistic messages that often have the opposite impact.
The official People’s Daily issued an article with the heading “The entire country is filled with optimism” on Friday.