Chinese local authorities warn about risks of grey-market margin financing, over 150 companies blacklisted in a week

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A number of local authorities in China recently issued warnings about risks of grey market margin financing as investors rush into the stock market on expectation that the market will continue to be supported by government stimulus and resumed economic activities.

On May 28, the local securities regulator of southern China's Chongqing city released a list of companies that "are qualified for providing securities brokerage services".

On the same day, regulators in Guangdong province, Qingdao city and Shanghai city issued similar blacklists. One day earlier, authorities in Fujian province, Tianjin . . .

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