(Bloomberg) — China’s largest cross-border brokers plummeted in U.S. premarket trading after a central bank official questioned the legitimacy of their operations amid Beijing’s continuing crackdown on private enterprise.
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These online brokers are engaged in “illegal financial activities” because they have no “driving licenses” to operate in China, Sun Tianqi, a senior People’s Bank of China official wrote in an article published on the website of Finance…
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