The due diligence company’s staff members in Beijing were detained days before multinational executives gather for an economic conference in the Chinese capital.
Two Nasdaq-listed online brokerages that cater to clients in China are preparing to further curtail their offerings in the country, amid tightening controls by Beijing on private firms, capital flight and data flows. Futu Holdings and Up Fintech Holding, known as Tiger Brokers, are planning to remove apps from online stores in China that allow their customers to trade stocks overseas, according to people familiar with the matter. Both Futu and Tiger offer services to Chinese citizens who already hold dollars and other currencies in bank accounts abroad, a source of business also tapped by China-based financial firms and global banks and institutions.
Two Nasdaq-listed online brokerages that cater to clients in China are preparing to further curtail their offerings in the country, amid tightening controls by Beijing on private firms, capital flight and data flows. Futu Holdings and Up Fintech Holding, known as Tiger Brokers, are planning to remove apps from online stores in China that allow their customers to trade stocks overseas, according to people familiar with the matter. After the Journal’s article was published, a Tiger Brokers spokesperson said the company would remove its trading platform from app stores in mainland China starting Thursday.
Proposals by the new committee urge measures to boost Taiwan’s defense and curtail financial flows to companies involved in mass detentions in Xinjiang.