Beijing’s recent crackdown on overseas brokerage platforms serving mainland investors, together with Hong Kong’s tighter scrutiny of investment-account openings for mainland users, has raised fresh questions about how the nation’s investors can legally access offshore markets.
Despite a more hawkish regulatory environment, mainland retail investors still have several regulated channels to gain exposure to foreign markets.
Each investment vehicle comes with different eligibility requirements, investment restrictions and product offerings:
Launched in 2014 with the Shanghai-Hong Kong link and expanded to Shenzhen in 2016, Stock Connect links the Shanghai, Shenzhen and Hong Kong stock exchanges. Acting as a “bridge”, it allows mainland investors to buy eligible Hong Kong-listed shares directly through existing brokerage accounts without opening a separate overseas account.
The scheme currently covers more than 2,800 Hong Kong-listed securities, including stocks and exchange-traded funds (ETFs). Southbound net purchases hit a full-year record in 2025, with Goldman Sachs estimating total inflows of around US$160 billion.
Investors generally need at least 500,000 yuan (US$69,500) in combined account assets to qualify.
Introduced in 2006, the QDII scheme allows domestic institutions to invest overseas using foreign-exchange quotas approved by regulators.
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