Chinese regulatory authorities have commenced a multi-agency, biennial campaign to eliminate unlicensed offshore investment services catering to mainland residents.

中國監管部門已啟動一項由多個部門協同、為期兩年的行動，旨在剷除向中國大陸居民提供服務但未經許可的離岸投資服務。

The institutional framework for this initiative involves the China Securities Regulatory Commission (CSRC) in coordination with seven additional governmental entities, including the People's Bank of China and the Ministry of Public Security, under the authorization of the State Council. This strategic alignment is designed to dismantle the infrastructure facilitating unauthorized capital outflows. Specifically, the regulatory apparatus seeks to prohibit overseas institutions from marketing financial products, executing trades, or providing account-opening services within the mainland without requisite licensure.

此次行動的制度框架是由中國證券監督管理委員會（CSRC）在國務院授權下，與中國人民銀行及公安部等另外七個政府部門協調執行。此戰略佈署旨在摧毀促成非法資金外流的基礎設施。具體而言，監管部門旨在禁止海外機構在未獲相關許可的情況下，於中國大陸推廣金融產品、執行交易或提供開戶服務。

Historically, a regulatory divergence between mainland China and the Hong Kong Special Administrative Region permitted certain brokers to operate within a jurisdictional ambiguity. While mainland statutes mandate the use of approved third-party channels for overseas asset acquisition, brokers such as Futu, Longbridge, and Tiger Brokers leveraged Hong Kong's distinct legal environment to attract mainland clientele. The CSRC has characterized these activities as violations of national securities law, asserting that these entities conducted business without the necessary approvals. Consequently, the regulator intends to confiscate illegal gains and impose stringent penalties upon these firms.

從歷史來看，中國大陸與香港特別行政區之間的監管差異，使得部分經紀能夠在管轄權的模糊地帶操作。儘管大陸法律規定獲取海外資產必須使用經批准的第三方渠道，但如富途、龍博（Longbridge）及老虎證券等經紀，利用香港獨特的法律環境吸引大陸客戶。中國證監會將這些活動定性為違反國家證券法，稱這些實體在未獲得必要批准的情況下經營業務。因此，監管機構打算沒收非法所得並對這些公司處以嚴厲處罰。

Furthermore, the scope of this enforcement extends to the broader ecosystem of facilitation. Domestic intermediaries, software providers, and digital platforms disseminating promotional content are subject to scrutiny. The initiative also incorporates a rigorous examination of compliance regarding anti-money laundering protocols, cybersecurity mandates, and foreign exchange controls. Financial institutions providing the requisite accounts for these transactions are now mandated to implement enhanced verification processes to obstruct the utilization of underground banking networks.

此外，此次執法範圍擴展至更廣泛的配套生態系統。國內的中介機構、軟體供應商以及傳播推廣內容的數位平台均受到審查。該行動還包括對反洗錢協議、網絡安全指令及外匯管制的合規情況進行嚴格審查。為這些交易提供必要賬戶的金融機構，現在被要求實施強化的核實程序，以阻斷地下錢莊網絡的利用。

The current state is characterized by an intensified regulatory crackdown on unauthorized offshore trading to ensure total state control over capital outflows.

目前的狀態是以加強對未經授權的離岸交易之監管打擊，以確保國家能全面控制資金外流。