Photo/VCG

Dec. 11 (NBD) -- Stock of Visual China Group Co Ltd ("VCG", 000681.SZ), which is likened to U.S. photo agency Getty Images, on Tuesday morning plummeted by the daily limit of 10 percent to 18.08 yuan (2.57 U.S. dollars) per share, seeing its market value decrease by approximately 1.5 billion yuan.

The day before, the Cyberspace Administration of China said on its website that Chinese image providers VCG and Imaginechina had engaged in Internet news information services without obtaining the correct licenses, and collaborated with international news services without conducting security assessments, demanding the two companies to suspend website services and make rectification.

VCG made a statement on Monday evening, saying that it had suspended the website at the request of authorities and would carry out "self-rectification". But the company pointed out that it was not sure how long the "self-rectification" process would take and the time of the site restoration would be announced separately.

Email: lansuying@nbd.com.cn