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After the Long Bridge, the Chinese securities that have not been named will also clean up the mainland.
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Following Fungway, Tiger and Long Bridge, another cross-border voucher dealer announced a clean-up of inland stock operations. On the morning of June 6th, a notice was issued to the customer stating that, as of June 15, Beijing time, the Chinese securities will adjust the services of stock investors ' accounts in mainland China: One is to trade in services in the Mainland: to suspend all new openings and stowages, including stocks, to support sales and stowage operations only; and the other is to transfer funds and securities from the Mainland: to suspend the transfer of funds and securities and to maintain normal functioning. The circular indicated that the adjustment was intended to facilitate the development of cross-border securities business norms by implementing the industry regulatory requirements of a two-year centralization period, and emphasized that the adjustment did not affect the provision of services abroad to stock investors or the security of the existing assets of all clients, who could regularly search accounts, hold and sell existing holdouts. This also means that, in addition to the three dealers directly “listed” by the CSRC on 22 May, some small and medium-sized dealers will open up their stock of illegal businesses. Since 2 June, the Tigers, Long Bridge and Richway have issued successive notifications of adjustments to the services of stock investors in mainland China, effective 12 June. Original (first financial) link