[Some banks in Hong Kong require signing a declaration to confirm the source of funds when opening an investment account starting yesterday]

Banks in Hong Kong and some of their clients have stated that since yesterday (May 26), there are new requirements for documents provided by clients when opening offline investment accounts through bank channels in Hong Kong, which now require signing a declaration of legitimate source of funds. A representative from a foreign-funded bank in Hong Kong said that the aforementioned new signing of related declarations indeed exists and is an adjustment made in accordance with local regulatory requirements. According to documents shown by several clients, the main content of the newly added cross-border disclosure declaration is that the account holder opening an investment account must confirm that "all funds used to support investment activities and related settlements come from legitimate sources outside mainland China," and also remind mainland Chinese residents that investment account services are only applicable to investors residing in Hong Kong (such as living or working in Hong Kong) and that they must ensure the source of funds is legal and compliant. $SOL