Third, if someone has been living in mainland China for a long time and cannot prove that their investment funds come from a legitimate source outside mainland China, but they are still using Hong Kong banks or brokers to trade Hong Kong stocks, U.S. stocks, ETFs, or funds. This doesn't just apply to new accounts; it will also affect existing accounts. The difference is that new accounts might not be approved at all, while existing accounts will generally require KYC updates, verification of fund sources, restrictions on deposits and purchases, and eventually the removal of investment functionalities.