$Futu Holdings Ltd (FUTU.US)$ Guys lets view this rationall...
This statemement by 孙天琦 (The monetary stability guy in China who issued this damming statement), was delivered as part of a public think tank event in China (Link below). The statement was purely his personal opinion, not some statement issued out of Regulator's office. This is likely just his personal opinion.
Also, this was also not the first time he said something like this. In Jan 2020, he said something similiar too （Link attached). Cross border payment have been always his focus of work. Be it this statement or 2020's stateemnt, he have been vocal over the legality of "Cross border payment". Likely his concern is that China resident will use this loophole to launder money and buy shares overseas.
I think this is just another case of high profile ppl's slip of mouth, thereby causing market crash. His word have been taken wildly out of context and overblown.
1.) Sun's previous comment.
http://finance.sina.com.cn/zl/china/2020-01-10/zl-iihnzahk3176509.shtml
2.) Full news on this current statement
http://finance.people.com.cn/n1/2021/1028/c1004-32267651.html
Also, this was also not the first time he said something like this. In Jan 2020, he said something similiar too （Link attached). Cross border payment have been always his focus of work. Be it this statement or 2020's stateemnt, he have been vocal over the legality of "Cross border payment". Likely his concern is that China resident will use this loophole to launder money and buy shares overseas.
I think this is just another case of high profile ppl's slip of mouth, thereby causing market crash. His word have been taken wildly out of context and overblown.
1.) Sun's previous comment.
http://finance.sina.com.cn/zl/china/2020-01-10/zl-iihnzahk3176509.shtml
2.) Full news on this current statement
http://finance.people.com.cn/n1/2021/1028/c1004-32267651.html
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JDMu : The problem is each time someone say something it will drop to hell, this just continue all the way no stop
haroit27 OP : Fear is the best medicine my friend. Likely will just wait this out and buy more.
HuatKorKor : This guy power leh. Got CB mouth …
OldNormanBates : To cause fud..