Since last year, the regulators have taken actions to clean up off-market margin financing. The China Securities Regulatory Commission (CSRC) has previously prohibited securities companies from providing any convenience or service for the securities margin trading between their customers and other parties or between customers by selling umbrella trust on commission basis, P2P platform, self-developed margin trading services and systems and etc. Online financing has been officially prohibited.
China's central bank vowed to support China Securities Finance Corporation Limited (CSF), the national margin trading service provider, in their efforts to get liquidity and steady the stock market.
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