The core issue behind the penalties on the three brokerages is that they privately allowed too many RMB deposit agents.


We believed that the capital flow for the three brokerages was arranged so that clients personally handled the outbound transfer of funds, then opened accounts at the brokerages to trade stocks.
However, the actual situation was that many agents provided a direct RMB deposit and account opening pathway, which is the real focus of this crackdown.
Of course, this was just the pretext; the real core issue is the severe capital outflow.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned