Beijing’s brokerage probe to stop ‘leakage’, Paul Chan tells Davos Dalian event

Beijing's recent investigation into three brokerages - Futu Securities, Tiger Brokers, and Long Bridge - was partly driven by concerns over foreign exchange "leakage" to protect mainland China's vast base of retail investors. Hong Kong's finance chief, Paul Chan Mo-po, stated that Beijing is overall supportive of Hong Kong's role as an international financial centre. However, the central government remains cautious about potentially destabilising capital outflows and investor losses. The investigation was held at a closed-door C-suite round table organised by the South China Morning Post. Beijing's actions aim to prevent "leakage" and safeguard retail investors.