The China Securities Regulatory Commission has stated that it is for foreign exchange control, mainly to prevent mainland investors from using the Futubull platform to invest RMB funds in the US stock market, as this is a loophole for capital outflow. On the Futubull platform, you can convert funds from USD accounts to Hong Kong dollars and trade in the Hong Kong stock market. You can also convert funds from the A-share market to Hong Kong dollars and US dollars, open accounts in the Hong Kong stock/US stock market, and then transfer funds to the Hong Kong stock/US stock account for trading. The loophole is that funds in the Hong Kong stock/US stock market can be transferred to personal accounts in Hong Kong/US banks in the form of cash, completing the outflow of funds. This is not allowed by China's foreign exchange management system. As long as this loophole is closed, the China Securities Regulatory Commission cannot intervene. Because Futubull is registered in Hong Kong and has subsidiaries in Singapore, the United States, and Australia. The Chinese government has no power to interfere, replace, or fine overseas companies.
Lovely_Moo : Do you think it will be possible for FUTU to close the loophole? (i.e. mainland investors are not allowed to transfer from FUTU to personal bank in US)
15块钱买花盆 : A must
intellectual Mink_31 15块钱买花盆 : The successor that went in last week has already been buried, and the one who went in today is buried tomorrow is there any good fruit to fight with the Party
intellectual Mink_31 : You're continuing to let Futu evade regulation, right?
ColdJoke : Please keep on discounting![undefined [undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36)
Ixy The Cat : Finally, a clear analysis that is devoid of FUD. The US is at a political and economic war with China and the Chinese authorities want to prevent the fallout of the US weaponising its financial leverage.
廡所事事的人 : this story is not new, it was discussed back in 2021. Futu and Tiger already work closely with regulators to ensure compliance. This news is just to flood out weak holders.