Key facts
- China's securities regulator stated that its crackdown on illegal cross-border investments will not result in forced liquidation of offshore assets.
- The China Securities Regulatory Commission (CSRC) assured that existing offshore accounts will remain operational.
- The campaign aims to "purify" capital markets, protect investors, and curb illegal capital outflows.
- Brokers must cease opening new accounts or accepting new funds for onshore clients by mid-June.
- Illicit cross-border services on the mainland will be terminated within two years.
China's securities regulator has clarified that its recent crackdown on "illegal" cross-border investments will not result in the forced closure of mainlanders' offshore accounts or the liquidation of their assets. The statement from the China Securities Regulatory Commission (CSRC) aims to alleviate concerns among investors holding approximately $54 billion in offshore accounts, following Beijing's unexpected move last month against "illegal" cross-border securities trading.