In the summer of 2026, two cross-border investment blowups rattled investors from the Chinese mainland to Hong Kong and landed on the desks of Hong Kong police investigators.
One victim, Huang Jing, a Shanghai woman in her 30s, found herself shuttling between law offices and police stations in Central instead of the luxury malls that usually draw mainland visitors. More than 10 million yuan ($1.5 million) of her savings, she said, was tied up in an investment linked to Hong Kong initial public offerings (IPOs) promoted by ZD Group.
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