Overseas institutions illegally conducting cross-border business are "halted", licensed securities firms welcome new business growth opportunities.

The China Securities Regulatory Commission and other eight departments recently jointly issued the "Implementation Plan for Comprehensive Rectification of Illegal Cross-Border Securities and Futures Fund Management Activities", which comprehensively bans illegal cross-border operations of overseas securities and futures fund management institutions. Respondents stated that the plan puts an end to the rampant growth of unlicensed cross-border internet brokers, sending a clear signal to the entire industry: institutional operations must prioritize investor protection. After illegal cross-border platforms exit, securities companies with compliant cross-border business qualifications will usher in new business growth opportunities and accelerate their international business layout.