Chinese-funded brokerages begin clearing mainland business; Guotai Junan International has restricted account deposits and purchases.

Following cross-border brokers such as Futu, Tiger, Longbridge and Valuable Capital, some Chinese-funded brokers in Hong Kong have also begun to wind down their existing mainland businesses. On September 28, it was learned that, in order to implement relevant regulatory requirements, Guotai Junan International has made partial adjustments to the available services for existing investor accounts in mainland China starting from the 26th of this month. According to customer service staff at Guotai Junan International, the above adjustments are similar to those previously made by brokers such as Futu Holdings and Tiger International, namely that when existing mainland investor accounts log in from within mainland China, they will be unable to deposit funds or buy, and can only withdraw funds or sell. When the login IP of the relevant account shows it is outside mainland China, the account's deposit, withdrawal and trading functions are not affected. If a client obtains a new identity, they need to update the corresponding new document information, at which point the client, as a holder of an overseas document, will not be subject to this rule.