Changqiao Securities announces that starting from 6/12, new opening positions and deposits from investors within China will be suspended, only allowing closing positions and withdrawals.

According to publicly available information, the online brokerage Long Bridge Securities (Long Bridge) announced today (the 3rd) that, to comply with the China Securities Regulatory Commission’s two-year concentrated rectification requirements for cross-border securities business, it will suspend new positions for new trades and the service for transferring funds into the service for existing investors within mainland China starting from June 12. Going forward, it will only retain functions for closing positions and withdrawals. The official emphasized that this measure does not affect offshore services, and will not force liquidation, calling on users to rest assured about the safety of their existing assets.
(Background summary: Tiger International announced that starting 6/12 it would suspend “new position opening and fund deposits” for investors in China; existing users can only sell, not buy.)
(Additional background: China’s first “Regulations on Overseas Investment” will take effect in July—allowing residents to invest abroad, creating new variables for crypto capital to go overseas.)

To implement relevant industry requirements from China’s regulators and promote the standardized development of cross-border securities businesses, the well-known cross-border online brokerage Long Bridge Securities (Long Bridge) officially released an announcement today (the 3rd), stating that it will make major adjustments to its account services for existing investors within mainland China. This marks that the Chinese authorities’ crackdown on illegal cross-border securities activities has entered a substantive business restriction phase, and it also places many investors who rely on such platforms for overseas asset allocation in a situation where they must adjust their investment strategies.

Suspend new position opening and fund deposits; only retain closing and withdrawal functions

According to the announcement from Long Bridge Securities, this service adjustment will officially take effect on June 12, 2026, Beijing time. It mainly imposes two major restrictions on trading and fund transfer services within mainland China:

• Trading service restrictions: Suspend new position opening and position-increasing trades for all products such as stocks. Going forward, only sell and close-position operations will be supported within China.
• Fund transfer restrictions: Suspend inbound fund transfer (deposits) services, but the fund transfer-out (withdrawal) function will continue to operate normally, to fully protect clients’ fund liquidity.

Long Bridge Securities specifically emphasized that this adjustment will not affect the “offshore” services the platform provides to existing investors within mainland China, and will not affect the safety of all clients’ existing assets. Customers can still log in to the system to check their accounts, holdings, and sell existing positions normally. The platform will absolutely not carry out forced liquidation. It calls on investors to respond rationally and rely on official announcements.

The CSRC launches a two-year rectification; both Tiger and Futu are affected

This regulatory storm stems from the China Securities Regulatory Commission and other departments issuing a “two-year concentrated rectification period” directive aimed at illegal cross-border securities businesses. On May 22 of this year, the CSRC issued a stern announcement that directly named Tiger Brokers (Tiger Brokers), Futu Securities, and Long Bridge Securities for illegal cross-border expansion activities, stating that they violated China’s laws and regulations governing securities, funds, and futures, disrupted market order, and must be resolutely dealt with.

At that time, the CSRC stated that it would confiscate all illegal gains of these three brokerages’ relevant entities both domestically and overseas according to law, and impose severe penalties. Under strong regulatory pressure, Tiger Brokers was the first to issue a similar notice restricting domestic business on June 2; now Long Bridge Securities is also following suit.

For affected domestic investors, experts recommend logging in to the official website as soon as possible to check account status. If they want to continue global asset allocation in the future, they may need to consider gradually reducing and liquidating existing positions, or switching to domestic compliant channels such as Qualified Domestic Institutional Investors (QDII) to carry out investment activities in accordance with China’s regulations.