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- China's social media is cracking down on influencers trying to get famous by showing off wealth.
- Some of its biggest platforms said they've removed thousands of posts of luxury flaunting.
- All of the companies announced bans on the same day, indicating an industry-wide push for reform.
Wealth-flexing for clout is now officially bad behavior in China.
China's biggest social media platforms launched a synchronized crackdown on parading wealth last week, removing thousands of posts and punishing dozens of influencers for promoting "bad values."
It's one of the Chinese internet's most pointed campaigns against "money worship" and flaunting luxury, which Beijing's central government has been ordering companies to regulate.