SOUNDWILL PLAZA(香港商场名称，后文提及富途证券旗舰店) in Hong Kong used to host a restaurant dedicated to the Transformers film franchise(《变形金刚》电影系列). The burger buns were stamped with robot faces and the gift shop featured a towering model of Optimus Prime(擎天柱，汽车人领袖) (a robot that can transform into a lorry) striding through a portal. Last year, however, fast food gave way to(让位于，被取代) fast finance. The site was taken over by Futu Securities, a tech-savvy(精通科技的) brokerage with over 3.5m clients. Futu boasts(夸耀，自吹) it can open a new account in as little as(仅仅，少至) three minutes—about the time it takes to flip a burger(翻汉堡，比喻快速简单).
香港的SOUNDWILL PLAZA曾经有一家以《变形金刚》电影系列为主题的餐厅。汉堡面包上印着机器人的脸，礼品店里矗立着一个高大的擎天柱模型（一个能变成卡车的机器人）正穿过一扇大门。然而去年，快餐让位给了快速金融。该场地被富途证券接管，这是一家技术娴熟的经纪公司，拥有超过350万客户。富途吹嘘说，它可以在短短三分钟内开设一个新账户——大约相当于翻转一个汉堡的时间。
When the flagship store opened in August, Futu was doing a lorry-load of(大量的) business. But some of its client accounts have drawn the ire of(引起……的愤怒) the authorities in mainland China, which maintains strict capital controls(资本管制). In May they accused Futu and several similar brokers of offering services on the mainland without a licence(无证，未经许可). Futu faces a fine of(面临……罚款) some $271m and must close illegal accounts in two years. The price of its shares, listed on America’s Nasdaq Exchange(纳斯达克交易所), is down by a fifth(下降了五分之一) since May 21st.
当旗舰店在八月份开业时，富途的业务量巨大。但它的一些客户账户引起了中国大陆当局的愤怒，中国大陆实行严格的资本管制。今年5月，他们指控富途和其他几家类似券商未经许可在内地提供服务。富途面临约2.71亿美元的罚款，并必须在两年内关闭非法账户。其在美国纳斯达克交易所上市的股票价格自5月21日以来已下跌五分之一。
The timing of the crackdown(严厉打击，镇压) was unusual. In the past regulators have tightened capital controls when China’s exchange rate was looking wobbly(不稳定的，摇摇晃晃的). But the yuan has been one of the best-performing(表现最好的) currencies in Asia over the past year (see chart). Its rise could erode(侵蚀，削弱) the competitiveness of China’s exports, which have been propping up(支撑，扶持) the economy’s growth. Capital outflows, which were large in March, have relieved that pressure(缓解了那压力) on the currency. The crackdown will instead add to it(加剧它).
这次打击行动的时机很不寻常。过去，监管机构在中国汇率看起来不稳时会收紧资本管制。但过去一年，人民币一直是亚洲表现最好的货币之一（见图表）。其升值可能会削弱中国出口的竞争力，而出口一直支撑着经济增长。3月份资本外流规模巨大，缓解了人民币的压力。而这次的打击行动反而会加剧这种压力。