From the institutional design of CARF and CRS 2.0, whether reporting is triggered depends on the compliance jurisdiction of the transaction location and service provider, rather than the user's nationality. Therefore, even if you are a tax resident of mainland China, as long as you complete withdrawal transactions through a compliant OTC or platform in Hong Kong, the related transactions may be included in Hong Kong's CARF and/or CRS 2.0 reporting and retention system. Against the backdrop of China's continued tightening of regulations on overseas income and cross-border capital flows, such compliance-retained data could realistically be used for cross-border tax assistance, information verification, or audit support.