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The scheme has seen substantial growth this year, with mainland Chinese clients investing 15.4 billion yuan ($2.16 billion) in offshore products, a stark contrast to the 24.6 million yuan invested northbound by residents of Hong Kong and Macau, according to data from China's central bank. n.
Chinese brokerages, including CICC, are restricting how much domestic investors can use cross-border swap transactions (TRS) to invest overseas.
These measures, initially decreed by President Vladimir Putin in October, have proven effective in stabilizing the Russian currency. The current controls are set to expire in April, and the proposed extension aims to provide continued support to the rouble.