China has banned brokers from opening overseas trading accounts, the Financial Times reported.
Chinese regulators ordered brokerages to shut down "new account opening channels for domestic investors."
AdvertisementAdvertisementChinese regulators have banned brokerage firms from opening overseas trading accounts for local investors, according to a report from The Financial Times.
The regulator asked brokers to stop offering services to local and overseas investors, and that "opening overseas fund accounts for domestic investors is prohibited."
Overseas investors have sold Chinese equities at a record pace in 2023.
Persons:
—, Lehman, Nicholas Spiro
Organizations:
Financial Times, Service, China's Securities Regulatory Commission, Overseas, Lauressa
Locations:
China, Beijing