China: Securities

China's securities regulator has launched a comprehensive crackdown on illegal cross-border securities activities, raising critical questions about the legal boundaries between legitimate offshore brokerage services and prohibited domestic operations. When mainland Chinese investors voluntarily travel to Hong Kong to open securities accounts with licensed brokers, does this constitute illegal domestic business activity, and how do courts determine the validity of resulting margin financing agreements?

The China Securities Regulatory Commission (CSRC) issued the Implementation Opinions on the Capital Market’s Role in Advancing the “Five Key Areas” of Finance, focusing on serving new quality...

在过去的二十多年里，赴美上市的中国企业基本上都是以FPI（Foreign Private Issuer，外国私人发行人）的身份登陆美国资本市场。