Core Viewpoint - The article discusses the tightening of account opening policies for mainland Chinese residents by cross-border internet brokers Futu Securities and Tiger Brokers, in response to new regulatory requirements [3][5]. Summary by Sections Account Opening Policy Changes - Futu Securities now requires mainland Chinese clients to hold overseas permanent residency identification to open accounts, while Tiger Brokers has stopped accepting applications from mainland residents unless they provide non-mainland identification [3][4]. - Previously, Futu Securities allowed account openings for mainland clients who could provide valid mainland ID along with proof of overseas work or residence [4]. Regulatory Background - Since 2022, both brokers have been under scrutiny from regulatory authorities, leading to the closure of account opening channels for mainland residents. The China Securities Regulatory Commission (CSRC) has labeled their activities as illegal without proper approval [5][6]. - The CSRC's announcements in late 2021 and subsequent regulatory talks with executives from both companies highlighted the need for compliance with securities laws [5]. Market Context - The tightening of account opening policies comes amid a growing interest in investing in Hong Kong and U.S. stocks, particularly as the profitability of Hong Kong stocks has increased [5][6]. - Other brokers, such as Interactive Brokers and Changqiao Securities, have also tightened their account opening requirements for mainland residents, reflecting a broader trend in the industry [6][7]. Alternative Investment Channels - Mainland investors are advised to consider alternative investment routes such as the Hong Kong Stock Connect and ETFs listed in mainland markets, which may offer more favorable tax policies [7].