China has intensified its regulatory actions against the dissemination of false information related to capital markets and cryptocurrencies. The Cyberspace Administration of China, in collaboration with financial regulatory authorities, has shut down multiple websites and social media accounts that spread misinformation, promoted illegal stock recommendations, and fueled speculative hype around cryptocurrency transactions. This crackdown follows recent developments such as the approval of a stablecoin bill in Hong Kong on May 21, which sparked considerable public discussion and speculation within mainland China despite strict controls on cryptocurrency-related discourse. Additionally, China has issued new guidelines aimed at improving its modern corporate system with Chinese characteristics, emphasizing stronger financial regulation, the establishment of a firewall between industrial and financial capital, and the promotion of long-term incentives and stable dividend policies for listed companies. The authorities have also reiterated their commitment to strictly preventing corporate financial fraud.