The window for mainland investors to participate in Hong Kong's capital market transactions across borders through illegal channels has become increasingly tight. First Finance learned that at present, a number of Chinese brokerage firms in Hong Kong have tightened their mainland stock business: when mainland investors log in to their accounts in the mainland, they can only sell and withdraw money; the key to whether they are restricted is whether the IP address of the mainland investor's login to the Hong Kong securities account is displayed in the mainland. According to the reporter's information, Xingzheng International and Guotai Junan International have implemented relevant restrictions since September 7 and September 26, respectively. Oriental Financial Holdings recently issued relevant notices to investors, and implementation began in October. A number of industry insiders said that some Chinese brokerage firms in Hong Kong are mainly related to the “Implementation Plan for Comprehensive Control of Illegal Cross-border Securities and Futures Fund Operations” jointly issued by eight departments including the China Securities Regulatory Commission in May of this year. Previously, Internet brokerage firms such as Futu, Tiger, and Changqiao first adjusted their mainland operations in June of this year. However, there are also Chinese brokerage firms in Hong Kong that have yet to make relevant restrictions. According to interviewees, some foreign-funded institutions are on the sidelines. However, from the perspective of the industry, both Chinese and foreign-funded institutions are facing the clean-up of illegal mainland stock business, and there will be more and more overseas institutions that will adjust their mainland stock business in the future.
Zhitongcaijing · 2d ago
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The window for mainland investors to participate in Hong Kong's capital market transactions across borders through illegal channels has become increasingly tight. First Finance learned that at present, a number of Chinese brokerage firms in Hong Kong have tightened their mainland stock business: when mainland investors log in to their accounts in the mainland, they can only sell and withdraw money; the key to whether they are restricted is whether the IP address of the mainland investor's login to the Hong Kong securities account is displayed in the mainland. According to the reporter's information, Xingzheng International and Guotai Junan International have implemented relevant restrictions since September 7 and September 26, respectively. Oriental Financial Holdings recently issued relevant notices to investors, and implementation began in October. A number of industry insiders said that some Chinese brokerage firms in Hong Kong are mainly related to the “Implementation Plan for Comprehensive Control of Illegal Cross-border Securities and Futures Fund Operations” jointly issued by eight departments including the China Securities Regulatory Commission in May of this year. Previously, Internet brokerage firms such as Futu, Tiger, and Changqiao first adjusted their mainland operations in June of this year. However, there are also Chinese brokerage firms in Hong Kong that have yet to make relevant restrictions. According to interviewees, some foreign-funded institutions are on the sidelines. However, from the perspective of the industry, both Chinese and foreign-funded institutions are facing the clean-up of illegal mainland stock business, and there will be more and more overseas institutions that will adjust their mainland stock business in the future.
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