With the regulatory crackdown, the floor-level threshold instantly becomes the ceiling, and mainland retail investors' Hong Kong Stock Connect has shrunk to a narrow gap.

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Author | jk

On May 24th, in Tsim Sha Tsui, Hong Kong, Haiphong Road, the atmosphere was so quiet it felt somewhat unsettling.

A week ago, this was still the "Account Opening Street" for mainland investors, with broker booths and mobile trading vans lined up side by side, crowds bustling. Hong Kong stock account openings with zero commissions, free stocks, support for IPO applications, and relaxed address proof requirements... To attract mainland clients, brokers almost lowered the thresholds to the floor.

However, just seven days later, the doors slammed shut. Now, mainland clients wanting to open a Hong Kong stock account not only have to sign a written declaration promising that the funds come from overseas and that no materials have been forged, but after signing, they might also face a rejection.

Everything changed starting May 22nd. Regulatory measures from both sides were implemented simultaneously, directly affecting millions of mainland investors who invest in overseas markets through Hong Kong brokers.

How fierce is this regulatory storm? What is the real experience of mainland residents trying to open an account in Hong Kong now?