By Laura He, CNN Business

Updated 9:34 AM EST, Tue November 29, 2022

Why protesters in China are holding up white paper

Hong KongCNN Business — 

The rare protests that spread across China over the weekend often featured demonstrators holding pieces of blank white paper, a phenomenon that has caused problems for the country’s top stationery chain.

In a symbolic protest against censorship, young demonstrators held up sheets of white paper — a metaphor for the critical social media posts, news articles, and outspoken online accounts that have been wiped from the internet as thousands of people took to the streets.

The unprecedented uprising, which has been largely ignored by the Chinese state media, saw demonstrators calling for an end to strict Covid lockdown measures and political freedoms.

On Monday, shares of M&G Stationery, a household name with more than 80,000 retail outlets across China, tumbled as much as 3% after a document widely circulated on Chinese social media said the company would ban the nationwide sale of A4 white paper sheets both online and offline, starting Tuesday.

A4 refers to a standard paper size commonly used in countries outside of the United States and Canada.

M&G Stationery is based in Shanghai and sells its products in over 50 countries and regions around the world, according to the company’s website. It’s currently listed on Shanghai Stock Exchange, and has a market cap of $6 billion.

The document shared on social mediasaid the ban was to “maintain national security and stability” and “prevent outlaws from hoarding a large amount of A4 white paper and using it for illegal subversive activities.” It also said the company “strongly condemns the recent ‘white paper movement’” in various cities in China.