China's securities regulator and seven other departments have issued a plan to crack down on illegal cross-border securities and futures operations. The initiative prohibits overseas institutions from illegally soliciting business within China, including marketing, account opening, and providing investment information. The plan establishes a two-year period to clear out existing illegal operations and emphasizes inter-agency and cross-border regulatory cooperation. AI
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RANK_REASON The cluster details a new regulatory action by multiple government bodies in China targeting illegal cross-border financial activities. [lever_c_demoted from significant: ic=1 ai=0.1]