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Guangming Daily, Aug. 25, 2015
Even as it dominates headlines around the world, the Chinese stock market crash is getting notably scant coverage at home.
After a record drop in share prices at week's opening, the front page of national state-run newspaper Guangming Dailymade no mention at all of the stock exchange and accompanying fears for the Chinese and world economy. The newspaper instead featured stories on the Chinese Academy of Social Sciences, national war memorial facilities and China's plans to pardon four categories of criminals on the occasion of commemorating the 70th anniversary of victory of the war against Japan.
The Beijing Evening News focused on foreign leaders visiting China and the World Track and Field Championships that the capital is hosting. The daily did make a passing reference ahead of Tuesday's opening to the "Opening of the stock market — A direct test of the 3,000-point mark."
The only front-page reference to the crisis in Tuesday's edition of The Beijing Daily was a small row of words on the bottom right, noting, "Global stock markets' black Monday —Shanghai plummeted 8.49%."
On Tuesday, the Chinese stock market continued to tank, with the Shanghai Composite index closing down 7.6% at 2,964.97 points.
But some state-run Chinese newspapers are attempting to tackle the issue. Xinhua's Economic Information Daily urged the government not to intervene in the stock market. "The purpose of the government's intervention is to control financial risks and not to lift up the equity market."
ABOUT THE SOURCE: Guangming Daily is a nationwide Chinese newspaper founded in 1949, and run by the Central Committe of the Communist Party of China. It is said to target Chinese intellectuals.
