China to ban inexperienced financial journalists: Xinhua

China's press watchdog said it will ban inexperienced journalists from reporting on securities and futures starting February, in an effort to protect the interests of investors, state news agency Xinhua said on Friday.

Newspapers and publications are required to verify the credentials of organisations and columnists before publishing their commentaries and analyses on securities and futures, Xinhua said, citing the regulations jointly issued by the General Administration of Press and Publication (GAPP) and the China Securities Regulatory Commission. Journalists must have either worked in securities and futures organisations or covered finance and economics for at least two years before they report on securities and futures, according to the regulations that take effect February 1, the report said. "The regulations have been issued to protect the legitimate interests of investors and the public, according to the GAPP statement," Xinhua said. Interns at media organisations are banned from reporting on securities and futures. The regulations urge newspapers and publications to "take caution" when covering news that may undermine market stability.