From China Digital Space

人民日爆 （rén mín rì bào）： People's Daily Explosion

This is a pejorative reference to the official state paper, the People's Daily. In Chinese, the "People's Daily" is literally, the "people's daily newspaper." By replacing the word for newspaper (报) with the word for explosion (爆), netizens created a term that sounds the same but means something completely different.