Beijing’s brokerage probe to stop ‘leakage’, Paul Chan tells Davos Dalian event (opens in new tab)

Beijing’s recent investigation into three brokerages – Futu Securities, Tiger Brokers and Long Bridge – was partly driven by concerns over foreign exchange “leakage” and the need to protect mainland China’s vast base of retail investors, Hong Kong’s finance chief has said. At a closed-door C-suite round table organised by the South China Morning Post on Wednesday, Financial Secretary Paul Chan Mo-po said Beijing was overall “supportive” of Hong Kong’s role as an international financial...