Leaf Li, once lauded as China’s answer to Charles Schwab for building a brokerage that facilitated significant offshore capital flows, now finds his enterprise at the epicenter of Beijing’s intensified efforts to rein in the movement of Chinese money beyond its borders. This strategic pivot by the Chinese government targets the very mechanisms that enabled Li’s success, signaling a new era of stringent financial oversight and a determined effort to maintain control over domestic capital, even as global markets beckon.
Adapted from: WSJ.com: Markets