Tencent-Backed Broker Chases Growth Abroad Amid China Crackdown

Futu is expanding its research and development team to offset weaker growth

(Bloomberg) — Online brokerage Futu Holdings Ltd. plans to push deeper overseas to diversify its growth as China’s crackdown on private enterprise catches up with internet trading businesses.

The Tencent Holdings Ltd.-backed company — which operates like Robinhood Markets Inc. in the U.S. —is also considering alternatives in case it gets kicked off the Nasdaq in New York.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: The Bridge Where War Began in 1937

PODCAST

Caixin China Biz Roundup: Beijing Makes Vaccines Mandatory for Crowded Public Spaces

MOST POPULAR

1: In Depth: How Chinese Factories Are Finding Their Way to Mexico

2: In Depth: How SoftBank Wrestled Back Control of Arm China

3: Boeing Pain From U.S.-China Trade War Seen in Airbus Buying Bonanza

4: China’s Plunging Land Sales Threaten Local Government Coffers

5: Chinese Tech Giants Cut Back on Office Space in Shenzhen