Shares Of Chinese Cross-Border Trading Apps Crash AFter PBOC Claims They Are Engaged In "Illegal Activities" US-traded Chinese ADRs are in the red once again during early trading on Thursday after a PBOC official hinted at the next private industry to be targeted by the CCP. As Beijing has cracked down on crypto, several Chinese fintech firms have tried to capitalize on the demand for off-shore assets in the Chinese market. Despite purportedly operating in a "grey area", these firms are backed by major Chinese tech firms like Tencent. But on Thursday, senior PBOC official Sun Tianqi wrote in a...