China is intensifying its regulatory measures on financial markets, affecting both foreign high-frequency futures traders and the domestic bond market. The People's Bank of China (PBOC) has initiated a crackdown on the bond market, which has led to a collapse in bond trading amid a record rally. Despite these measures, Ping An has announced its intention to continue investing in government bonds. The crackdown is part of a broader effort to regulate financial institutions operating without proper licenses, potentially impacting over 30,000 firms. The PBOC has clarified that it will not ban legitimate government bond trading but has cautioned against the risks associated with excessive buying, state media says.