Khalid MAZOUZ m55

RMB 2.26 billion in fines in one morning. And I still think the fine is not the most interesting number. Futu received a proposed RMB 1.85 billion penalty. Tiger, through UP Fintech, received RMB 308 million in penalties plus RMB 103 million of illegal income confiscated. Both stocks dropped more than 30% in US premarket after the announcement. Futu, Tiger and Longbridge were named by the CSRC. The action was coordinated with seven other government agencies, including the central bank. In Hong Kong, the SFC said it found significant deficiencies after reviewing 12 brokers, including questionable documents, forged documents, and weak checks on funding sources. So yes, this is a regulatory story. But more importantly, it is a capital flow story. For mainland investors, these apps were not the only way to move money offshore. Far from it. People with serious capital always have other routes. But for retail money, mass affluent users, tech employees, and smaller investors who wanted exposure to Hong Kong and US equities, this was one of the simplest channels. Open the app. Fund the account. Buy offshore assets. Not fully official. Not really hidden. Just easy enough to become part of the system. That part is now being shut down. The CSRC later clarified that existing accounts will not be forcibly closed, client assets will not be confiscated, and there will be no mandatory liquidation. But the direction is still clear. No new accounts. No fresh money. No new buying from mainland China. Sell, withdraw, and wind down over two years. Kaiyuan Securities estimates the affected offshore accounts hold around $54 billion.

Still waiting for China to slow down?

"Tcheap Chiiinaaaa" đã 30 tuổi. Biểu đồ dưới đây là Q1. 🫠 https://www.linkedin.com/posts/khalid-mazouz-bitcoin_jeanyann-china-macro-share-7457748038317432832-5pXC