China Securities Media Credibility Study

With the establishment and development of the securities market naturally comes the birth of securities media. Though it started out slowly, it is now a branch of the media of considerable size and much potential for growth. But what about the credibility of the securities media in the public eye? What are the factors influencing it? How is it created? This paper addresses these questions.The credibility of the securities media in the public eye has gone through two main phases.The first phase started in 1993, when three national reports came out on securities, signaling the entrance of the securities market into the mainstream media, and ended in 2000, when Wu Jing Lian published 《10-year circumstance of stock market》 , and the economic world engaged in an academic debate over the stock market But reports during this period were frought with problems: inaccurate reports, fake reports, anonymous reports, etc. Because of this, the securities market lost significant credit in the public eye. The second phase has been since 2000, when the magazines such as Cai Jing published numerous critical and scathing exposes on the irresponsible behaviour of securities companies. From then on, securites media has regained some of its lost credibility.There are many factors which influence the media's credibility, and China's securities media is no exception. This paper analyzes the following factors: the alienation and variation of the set fuctions of securities media; incomplete or inaccurate information sources; problems with the moral character of members of the media; and poor quality reporting.Concerning the above mentioned problems, this paper proposes the following policies and steps as remedies: rigidly set the scope and functions of securities media; establish clear and reliable sources of information; foster a sense of moral responsibility in members of the media; increase accountability for the quality of reports; and standardize the form and techniques of securities reporting."Lack of credibilty" is a very pressing problem in today's society, and credibility of the securities media is an even more sensitive and important issue. Securities media needs to be more accountable for the public opinion within the securities market; they need to follow more standards for reporting; report objective and truthful information, refrain from any intentionally misleading or misguiding reports, or reports that are simply designed to attract investors, and finally help investors bettor protect themselves and their investments.