Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
CSRC: Crackdown on Illegal Cross-border Investment Will Not Lead to Closure of Offshore Accounts or Forced Liquidation of Assets
Recommend 40 Positive 50 Negative 27 |
||||
|
||||
|
Amid a stringent crackdown on cross-border investment in mainland China, the China Securities Regulatory Commission (CSRC), in response to an inquiry from Reuters, stated that China’s rectification campaign targeting illegal cross-border investment will not result in the closure of offshore accounts held by mainland residents or the forced liquidation of their assets. The CSRC said the current rectification action, as well as penalties imposed on overseas brokers for illegally assisting Chinese investors in purchasing foreign market stocks, will not affect offshore business operations. The Chinese regulator said that mainland investors may sell their assets and transfer funds out of affected accounts, while brokers’ provision of illegal services within the mainland will be terminated within two years. The CSRC emphasized that its policy intent is very clear, aiming to “purify” China’s capital markets, protect investors, and curb illegal capital outflows. It reiterated that no country or region would tolerate overseas institutions conducting illegal activities within its jurisdiction, as such activities severely disrupt market order, heighten financial risks, and undermine investor interests. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
AASTOCKS Financial News |
||||
Copied to Clipboard
 |
||||
