A Chinese bank employee counts 100-yuan notes and U.S. dollar bills at a bank counter in Nantong in Jiangsu Province, China, on Aug. 28, 2019. AFP via Getty ImagesThe Chinese regime is tightening restrictions on offshore investing channels and stepping up scrutiny of Hong Kong-linked brokerage and banking pathways, as concerns mount over capital flight through financial markets and cross-border structures.Chinese regulators have recently targeted several overseas online brokers popular with Chinese investors. According to industry insiders who spoke to The Epoch Times, Chinese investors with existing accounts on these platforms have been instructed, in some cases, to switch to “sell-only” mode, effectively preventing new purchases while allowing the liquidation of holdings.
Beijing Steps Up Crackdown on Offshore Brokerages Amid Capital Flight Fears
Date:
