🧐 Eight Chinese government departments jointly issue a plan to comprehensively rectify illegal cross-border securities, futures, and fund activities. According to the China Securities Regulatory Commission’s (CSRC) response to journalists, and with the approval of the State Council, the CSRC, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, the People’s Bank of China, the State Administration for Market Regulation, the National Financial Regulatory Administration, the Cyberspace Administration of China, and the State Administration of Foreign Exchange, has recently issued the “Implementation Plan for Comprehensive Rectification of Illegal Cross-Border Securities, Futures, and Fund Activities.” The plan establishes a two-year intensive rectification period, during which all offshore institutions are fully prohibited from engaging in marketing, solicitation, account opening, transaction instruction processing, or fund transfers within China. During the rectification period, existing investors are permitted only to sell their positions and transfer funds out; after the period ends, offshore institutions must completely shut down their websites, trading software, and associated servers operating in China. The scope of rectification includes offshore entities engaging in illegal cross-border business, domestic assisting parties, illegal intermediaries, and related internet platforms and self-media accounts. The plan also clarifies that investors who suffer disputes or losses through illegal channels for overseas investments will not be afforded legal protection under Chinese law.