Exclusive: Mainland Chinese banned from opening new offshore trading accounts with local brokers

A man stands near a screen showing news footage of Chinese President Xi Jinping at the China Securities Regulatory Commission (CSRC) building on the Financial Street in Beijing, China July 9, 2021. REUTERS/Tingshu Wang/File Photo Acquire Licensing Rights HONG KONG, Oct 12 (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…