Stay updated with breaking news from Offshore trading. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
HONG KONG (Reuters) -China has for the first time issued a notice prohibiting domestic brokerages and their overseas units from taking on new mainland clients for offshore trading, according to an official document seen by Reuters and confirmed by four sources. New investments by existing mainland clients are also to be "strictly monitored" to prevent investors bypassing China's foreign exchange controls, the notice said. The actions, which will restrict capital outflows, come as faltering growth for the world's second-largest economy has spurred investment overseas, weighing on the yuan and prompting authorities to ramp up efforts to stabilise the currency. ....
Russia confirmed it was targeting military facilities across the country, including airfields and anti-aircraft systems. The government in Kyiv called it a “full-scale invasion” and President Volodymyr Zelenskiy imposed martial law. ....
Ukraine accused President Vladimir Putin of carrying out a full-scale invasion after the Russian president said he ordered a special military operation to protect the Donbas region of eastern Ukraine. ....
Firms are likely to be notified of a ban in "the coming months", said one of four sources who spoke with Reuters. All sources declined to be identified as they were not authorised to speak to media. ....