Deep Tide TechFlow News, May 22 — The China Securities Regulatory Commission, Ministry of Industry and Information Technology, Ministry of Public Security, People's Bank of China, and other 8 departments jointly issued the "Implementation Plan for Comprehensive Rectification of Illegal Cross-Border Securities, Futures, and Fund Activities," clarifying that two years will be dedicated to focusing on rectifying illegal cross-border securities, futures, and fund activities, with the goal of "resolutely banning illegal activities and safely clearing existing cases."

The plan states that it is prohibited for overseas institutions to illegally conduct marketing, account opening, trading instruction processing, and fund transfer activities within the country, and it is forbidden for internet platforms, self-media, and domestic entities to provide lead generation, technical, and customer support services. It also requires that during the rectification period, existing accounts are only allowed to sell and transfer funds outward.