Xiaohongshu launches a special campaign to govern financial professional accounts, addressing illegal inducements and violations such as cross-border investment misconduct.

According to a report from Mars Finance citing Securities Times, Xiaohongshu has launched a special governance campaign, starting June 3, targeting verified professional accounts in the finance sector.

Pursuant to relevant laws and regulations and platform rules, financial-category verified professional accounts are issued only to institutions holding compliant licenses. The nickname naming for verified professional accounts on the platform must strictly match the verified entity’s actual business scope, and users are prohibited from obtaining verification labels using false or misleading information. In the past week, Xiaohongshu has already dealt with more than 1,500 noncompliant financial professional accounts, and will continue to comprehensively strengthen its corporate verification and validation mechanism, carrying out regular routine inspections and handling violations related to existing accounts.

Staff members said that since May, Xiaohongshu’s platform has dealt with 31,000 marketing accounts that are in violation of regulations related to the financial sector or lack qualifications related to finance. This includes dealing with 539 violating notes such as illegal inducement of cross-border investment and 146 comments; for the practice of reselling foreign investment bank research reports at low prices, the platform has dealt with 141 related violating notes and frozen 132 related products. In addition, the platform has also processed more than 130 pieces of information suspected of conducting gold-related financial marketing promotions, promoting businesses for overseas platforms within China, and other suspected violations.