No, this is foreign exchange margin trading, which is a way of spot trading of foreign exchange and has nothing to do with direct selling. This is legal in most countries. Although there is no explicit support for legality in Chinese mainland, there is no explicit prohibition in practice. But there is no supervision. It belongs to the gray area.

Recently, China's RMB has been shorted by Wall Street speculators, and a large part of it is margin trading position.