There will be no international markets in the future, only domestic markets.

Regarding the matter of overseas brokers like Futu, Tiger, and others requiring the withdrawal of cross-border businesses, it’s not really news.
In recent years, if you don’t have a Hong Kong ID, you can’t open an account relying solely on a Mainland China ID anymore.
But why has there been a concentrated crackdown these past two days?
Essentially, it’s because the profit potential of overseas capital markets is just too good.

The US-China tech AI war concerns national destiny, and at the core of the tech war, it’s about the financing capabilities of the capital markets.
The RMB is going overseas to buy tech giants, financing SpaceX, OpenAI, and others.
What are you trying to do? What’s your stance? Right?
Our domestic tech companies, aren’t they doing well?
Is the Growth Enterprise Board not doing well?
Is the Sci-Tech Innovation Board 50 not doing well?
Is there no profit potential anywhere? Right?
All in all, this operation is logical and reasonable.

In the future, international markets belong to international markets, and domestic markets belong to domestic markets.
You need to make a choice, or you simply have no choice at all.

Actually, what Uncle S cares about more—or is more worried about—is another matter.
That is, our capital market here is essentially played by our own people.
Foreign capital doesn’t participate, or rather, foreign capital is not allowed to participate at all.
Let me give everyone some data:

The total market value of the US stock market is $75 trillion, with foreign capital accounting for 18%.
The total market value of the Japanese stock market is $8.2 trillion, with foreign capital accounting for 35%.
The total market value of the Korean stock market is $4 trillion, with foreign capital accounting for 39%.
And our A-shares market value is $14.8 trillion, with foreign capital only a pitiful 3.4%.

What does this indicate?

Only when your money is in the hands of others will your stance align with theirs.
Only then will you be motivated to protect them.
Only when you are truly a community of shared interests will you work together to resist storms.

This is human nature.
Whether it’s the capital market or close relationships, it’s the same.

Our large A-shares market has such a low proportion of foreign capital.
A capital market without global capital participation—
Is this a good thing for internal independent circulation, or a bad thing because it’s not favored by foreign capital?

Foreign investors still want to buy high-quality Chinese assets.
Otherwise, look at Hong Kong stocks like CATL, which actually have a higher premium than A-shares and are heavily bought up.
So, this isn’t an asset issue; it’s a mechanism choice.

If a person is relatively weak, protecting them is the right thing to do.
But if that person has already become strong, and you still protect them like a child, that might be overprotection.

A truly strong person should be someone with fundamental confidence, someone who isn’t afraid of storms, someone willing to compete with the strong, and even someone who gains experience and lessons while fighting.