On July 10, Qiao was investigated by the Securities Regulatory Commission on suspicion of fabricating and disseminating false and misleading information involving Gongjin Co., Ltd. On July 7, a case involving Chinese public education was filed for the same reason. Two cases were filed in three days, and the sharp sword of supervision directly pointed to “disruptors” in the market. The signals released by the relevant departments are clear: the Internet is an illegal place; touching the red line of false and misleading information must be investigated.

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