This is another major event following the overseas trust tax audits, strict approval processes for government officials traveling abroad, and a series of major actions taken domestically! Late on July 31st, China’s financial community was shaken to its core! Xiangcain Securities and Guosheng Securities were both formally investigated by the China Securities Regulatory Commission (CSRC). This isn’t just a fine—it’s an official investigation. There’s a world of difference between the two: a fine means “you violated rules, here’s a penalty and a warning,” while an investigation means “we suspect you of illegal activity, and we’re launching a formal probe.” Even more striking: on the same day, six other brokerages received penalties. Hongta Securities, Century Securities, and GF Securities received warning letters; Yongxing Securities, Guorong Securities, and Guoyuan Securities were ordered to rectify their conduct. In a single day, eight brokerages were publicly flagged—an extremely rare occurrence in A-share history.🧐 Stay tuned for updates!