Popular Chinese concept stocks closed mixed on Thursday.Tiger SecuritiesFell more than 17%,FutuHoldings fell nearly 13% after Sun Tianqi, the central bank, said that cross-border Internet brokerages are illegal financial activities.
ććTucson FuturećWiMi HologramRose more than 11%,Head of EducationRose more than 8%, Luokung technology rose more than 7%,Canaan TechnologyRose nearly 5%,Mavericks electricRose nearly 4%,In the grid linećLejuBy more than 3%, the bit number by more than 3%,36 Krypton, Fang Tianxia rose nearly 3%,YunmiTechnology,ThunderRose nearly 2%, Gaotu,Good future, Happy Car,Tencent Music, Huanju Group,United Generation TechnologyćHM>Auto HousećUxinRose more than 1%.
Among new energy vehicle stocks,Wei LaiThe car rose by more than 3%,idealAutomobiles rose more than 2%, and Xiaopeng Motors rose nearly 1%.
ććReithFell more than 16%,BestThe group fell more than 7%, Lufax fell nearly 6%,GatheredFell more than 5%,FluentćEducation togetherFell more than 4%,Funny headlinesFell nearly 4%,shellKingsoft CloudćauroraFell more than 3%,Phoenix New MediaćInfobird SoftwareFell nearly 3%,financial, Water Drop Company fell more than 2%,VipshopćCheetah MobileFell nearly 2%,HuyaFell more than 1%.
US stocks closed higher on Thursday, the Nasdaq rose more than 210 points, and technology stocks led the way. The Dow rose 239.79 points, or 0.68%, to 35730.48 points; the Nasdaq rose 212.28 points, or 1.39%, to 15,448.12 points; the S&P 500 index rose 44.74 points, or 0.98%, to 4596.42 points.
On Thursday, the Nasdaq rose to a maximum of 15,452.30 points, a record high in intraday trading.
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ććCentral Bank Sun Tianqi: Cross-border Internet brokers are illegal financial activities
In the third session of the 3rd Bund Financial Summit Plenary Session on October 24, “Digital Economy and Financial Technology: Efficiency, Stability and Fairness”, a special invited member of the China Financial Forty Forum (CF40), the Peopleās Bank of China Financial Stability Bureau Director Sun Tianqi delivered a keynote speech on “The Realization of the Regional Boundary and Customer Boundary of Financial License in the Digital Environment”.
Sun Tianqi pointed out that finance, as a franchise industry, must be licensed to operate. Financial products are “specialized products”, not everyone can sell them, not to whomever they want to sell. It is not anyone who wants to buy can buy (qualified investor concept).
He said that financial licenses have national boundaries. For financial businesses that are prohibited by domestic and foreign investors, as well as financial businesses that have not been opened to the outside world, foreign institutions are not allowed to operate within the country. For financial services that have been opened to the outside world, overseas institutions must hold relevant domestic licenses to operate in compliance with laws and regulations.It is an illegal financial activity for foreign institutions to engage in prohibited financial services in China that are not open to the outside world, or to conduct business in China with only overseas licenses.The same is true in China. If a financial institution only holds a license that can conduct business in a certain area, it cannot conduct business across the country. National financial licenses can only be issued by the central financial management department.
Some financial products or services can only be provided to specific targets, and must be resolutely implemented in the digital environment. The requirements cannot be lowered, and the entire network cannot be sold uniformly. To sell private equity products to unspecified objects/not the entire network, the following should be done: (1) The sales must be licensed. For non-licensed Internet platforms that directly display or introduce or promote private equity products without going through the pages of licensed institutions, they shall be strictly identified as illegally engaging in financial product sales activities, and severely investigated and punished in accordance with the law. (2) The requirement that certain objects are visible cannot be relaxed. Private equity products should not be advertised indiscriminately on the Internet, and should not be visible to everyone. Only specific objects can be seen. The rules for determining “specific objects” on the Internet should be prudent and cannot be ignored. (3) Qualified investor certification in the purchase process is the key. The online and offline qualified investor certification must be consistent. The division of responsibilities between financial institutions and agency agencies should be clear. The evolution of market rules and the maintenance of market order require leading financial companies and leading platform companies to play a more active role.
At the supervisory level, how to implement functional supervision in the digital environment? Sun Tianqi pointed out that functional supervision should be implemented. It cannot be said that “the license is not issued by me and is not in my control”, nor can it be prevaricated by “not enough manpower” and people are on the “front”. Severely cracking down on violations of laws and regulations on the Internet platform must be “early” and “small” because the spread and expansion on the Internet are fast. Violations of laws and regulations must be severely punished, and relevant units and personnel shall be investigated for criminal and civil liabilities in accordance with the law.
ććFutu Holdings statement: Futu Securities is licensed and regulated in Hong Kong, China, and the company has sufficient capital
Futu Holdings (FUTU.O) issued a statement stating that in response to relevant media reports today, Futu Securities (Hong Kong) has been licensed in Hong Kong, China since its establishment and has been subject to strict supervision. Operating within the framework of industry laws and regulations, it is no different from all its counterparts licensed in Hong Kong.
Nowadays, as a global enterprise, Futu has established independent licensed institutions in many countries and regions. More than 80% of new customers come from Hong Kong, China and overseas, and most of the existing customers are also from Hong Kong, China and overseas.
Futu Securities (Hong Kong), as a licensed securities firm in Hong Kong, China, has sufficient capital and stable operation of the company. Its client assets need to be segregated in a dedicated custodian account designated by the supervision and management, and the securities firm’s assets and client assets are properly separated. This protection is the core principle of internationally accepted securities and commodity brokers. Client assets and securities firmsā own assets are independent of each other and are strictly regulated.
Futu has always strictly complied with regulatory regulations and requirements to protect the safety of customer assets.
ććTiger Securities: Always strictly abide by relevant regulatory requirements to ensure the safety of client assets
Tiger Securities responded: “Recently noticed the relevant media reports, thank you for your attention to Tiger. Tiger Group has always regarded legal and compliance operations as the lifeline of the group. We actively maintain communication with regulatory agencies, adhere to the bottom line of compliance, and obey all levels of supervision. Require. “
Tiger Securities said that, like other US and Hong Kong brokerage business models, the company strictly abides by regulatory requirements around the world, without any legal compliance changes and innovations, but only enhances user experience through China’s technological power. “At present, we hold securities licenses in Hong Kong, Singapore, New Zealand, Australia, the United States and other places, and more than 80% of incremental deposit customers come from overseas. We always strictly abide by relevant regulatory requirements to protect the safety of customer assets.”
ććBaiduThe financial report for the third quarter of 2021 will be released on November 17
Baidu (Nasdaq: BIDU) announced today that it will release its third quarter 2021 financial report as of September 30 before the opening of the U.S. stock market on November 17, Eastern Time (evening on November 17, Beijing time).
After the earnings report is released, the Baidu management team will hold an earnings conference call at 7:30 am on November 17, 2021, US Eastern Time (8:30 pm on November 17, Beijing/Hong Kong time).
ććIQIYIThe financial report for the third quarter of 2021 will be released on November 17
IQiyi (Nasdaq: IQ) announced today that it will release its third quarter 2021 financial report as of September 30 before the opening of the U.S. stock market on November 17, Eastern Time (the evening of November 17, Beijing time).
After the financial report is released, the iQIYI management team will hold a financial report conference call at 6:30 am on November 17, 2021, US Eastern Time (7:30 pm on November 17, Beijing/Hong Kong time).
ććBilibiliThe financial report for the third quarter of 2021 will be released on November 17
Beep Beep (Nasdaq: BILI,Station B) Announced today that the third quarter of 2021 will be released before the opening of the U.S. stock market on November 17, 2021 Eastern Time (the evening of November 17, Beijing time).
After the financial report is released, the management team of Bilibili will hold a conference call at 7 am EST on November 17th (8 pm on November 17th, Beijing/Hong Kong time) to interpret the key points of the financial report and answer investors and analysts. Ask a question.
ććShell Search will release its third quarter 2021 financial report on November 9
Shell Search (NYSE: BEKE) recently announced that it will release its third quarter financial report for the third quarter of 2021 after the US stock market closes on November 8, 2021 Eastern Time (November 9, Beijing time).
After the financial report is released, the Shell Finding Housing Management Team will hold a financial report conference call at 8 pm Eastern Time on November 8th (9 am on November 9th Beijing Time).
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