TechFlow News, May 22: The China Securities Regulatory Commission (CSRC), the Ministry of Industry and Information Technology, the Ministry of Public Security, the People’s Bank of China, and five other departments jointly issued the “Implementation Plan for the Comprehensive Rectification of Illegal Cross-Border Securities, Futures, and Fund Activities,” stipulating a two-year concentrated campaign to crack down on illegal cross-border securities, futures, and fund activities, with the goal of “resolutely shutting down illegal operations and steadily clearing existing ones.”
The plan prohibits overseas entities from conducting marketing, account opening, trade order processing, and fund transfers illegally within China. It also bans internet platforms, self-media accounts, and domestic entities from providing traffic diversion, technical, or customer service support. During the rectification period, existing accounts are permitted only to sell assets and withdraw funds—no new purchases or deposits are allowed.
