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After the completion of the acquisition, Tiger Brokers will be able to offer customers in Hong Kong services, involving securities and futures brokerage.
In episode 46 of TechBuzz China, co-hosts Ying-Ying Lu and Rui Ma take a look at the market for China’s overseas online brokerages, which help Chinese people to invest in securities outside of mainland China. Of note, two Chinese fintech startups, Futu (富途 fù tú, or “path to riches”) and Tiger Brokers, went IPO in quick succession in March.
Workforce operations platform Quhuo Limited (QH) announced it had filed a registration statement with the US Securities and Exchange Commission (SEC).
Chinese state media on Thursday questioned the ability of Futu and Tiger Brokers to meet requirements of the country’s strict new data protection law. As a result, the two brokers’ shares decreased sharply before markets opened in the U.S.