Eight Chinese government departments, including the China Securities Regulatory Commission (CSRC), have launched a comprehensive campaign to crack down on illegal cross-border securities, futures, and fund-related activities.

The China Securities Regulatory Commission (CSRC), the Ministry of Industry and Information Technology, the Ministry of Public Security, the People’s Bank of China, and five other departments jointly issued the “Implementation Plan for Comprehensive Rectification of Illegal Cross-Border Securities, Futures, and Fund Operations,” specifying a two-year concentrated campaign to tackle illegal cross-border securities, futures, and fund operations, with the goal of “resolutely banning illegal activities and steadily clearing existing cases.” The plan prohibits overseas institutions from conducting marketing, account opening, trade order processing, and fund transfers illegally within China; bans internet platforms, self-media outlets, and domestic entities from providing traffic-driving, technical, or customer service support; and mandates that, during the rectification period, existing accounts may only conduct one-way sell orders and fund withdrawals.