Chinese regulators slap US$7.8m penalty on Guotai Haitong arm amid capital flow crackdown
An asset-management arm of Guotai Haitong Securities, a leading Chinese brokerage, was ordered to pay 52.5 million yuan (US$7.8 million) in fines and penalties for activities undertaken by its offshore investment business as Beijing tightens its scrutiny of capital flows. Guotai Haitong Securities A