$UP Fintech (TIGR.US)$
Hi All,
Came across this article from SCMP published in March 2021 about China attitude considering to ease their strict capital control in allowing investment aboard.
https://sg.news.yahoo.com/china-strict-capital-controls-may-061739623.html
A extract from the article:
‘The State Administration of Foreign Exchange, the nation’s foreign exchange regulator, said last month China was considering allowing personal investment in overseas stocks and insurance policies within an annual spending limit of US$50,000. Currently, mainland Chinese residents can convert up to US$50,000 per year on foreign currencies for travel, overseas study or work, but not for buying overseas property, securities or life insurance policies’
Futu and Tiger is currently one of the biggest fintech brokers in China that has oversea exposure. But currently “at regulatory risk”.
My thoughts is that China just wants to set the rule right and regulate them (play by their rule).. but not to chase them out of China or to crush them..
what do you think?

$UP Fintech (TIGR.US)$
My thoughts is that China had been trying to attract foreign investors to invest into Chinese Market.
Futu and Tiger are the largest 2 Chinese fintech that can provide China A Shares to people outside of China.
If you have notice the subscriber of this 2 platform has been increasing exponentially outside of China.
I find it hard to believe the Chinese government wants to destroy them...
I believe Futu and Tiger would work closely with the authorities and come to terms.

$UP Fintech (TIGR.US)$
nice breakdown of the situation watch this video
https://youtu.be/yqLhXaYu9WA

$TENCENT (00700.HK)$
Tencent announced the repurchase of shares Tencent Holdings (00700.HK) repurchased 240,000 shares for 102 million yuan https://m.hexun.com/hkstock/2021-08-23/204209138.html