China rules out forced liquidation in offshore crackdown
The China Securities Regulatory Commission confirmed that existing offshore accounts will not be closed or liquidated following the recent crackdown on illegal cross-border trading. While new mainland accounts are restricted, investors can still sell assets and withdraw funds from their current holdings.
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China will not force the liquidation of $54 billion in offshore assets despite a crackdown on illegal cross-border securities trading. The China Securities Regulatory Commission (CSRC) clarified that existing mainland accounts in Hong Kong and other markets will remain operational for asset sales. This move aims to stabilize investor sentiment following a sharp sell-off in United States-listed Chinese equities.
