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The regulatory crackdown on the retail brokerage industry in China is continuing, focusing on some companies that have come into focus by Chinese authorities. Sources with knowledge of the matter have shared with Finance Magnates that local officials are moving swiftly to pressure some parts of the industry further.
Their latest move is to crack down on three locally-based brokerage houses, arresting staff and closing the premises on which they were operating. The move follows up on recent pressure from the Chinese government that seems to be continue resonating after the local New Year celebrations.
One source explained that ... (read more)