Core Viewpoint - The article discusses the increasing interest of individual investors in overseas investments to diversify risks and seek higher returns, while highlighting the strict foreign exchange controls in China that limit personal overseas investment channels [1][3]. Group 1: Compliance Principles - It is emphasized that there is currently no direct "overseas investment filing" channel for individuals in China, unlike for enterprises [3]. - The core of individual overseas investment lies in "channelization" and "securitization," meaning investments must be made through state-approved financial intermediaries in standardized financial products [3]. Group 2: Main Compliance Paths and Procedures - **Path 1: QDII (Qualified Domestic Institutional Investor) Channel** - This is the most common and straightforward method for individual investors to access overseas markets [4]. - QDII allows approved domestic financial institutions to raise RMB funds, convert them to foreign currency, and invest in overseas financial markets [4]. - Investment targets include stocks, bonds, and public funds listed on overseas exchanges [4]. - The process involves selecting QDII products, opening an account, purchasing the products in RMB, and managing quotas through the financial institution [4]. - Advantages include simple procedures, low investment thresholds, professional management, and full compliance [4]. - Disadvantages include limited investment scope and exposure to exchange rate risks and management fees [4]. - **Path 2: Shanghai-Hong Kong Stock Connect / Shenzhen-Hong Kong Stock Connect** - This method allows direct trading of specific Hong Kong stocks and is considered a highly compliant and efficient channel [6]. - Investors need a domestic A-share securities account and must meet asset thresholds and complete knowledge assessments to open trading permissions [8]. - Advantages include direct investment in Hong Kong stocks, use of RMB for transactions, and regulatory oversight [8]. - Disadvantages include a minimum asset requirement of RMB 500,000, which excludes many retail investors, and limited investment options [8]. - **Path 3: Overseas Bank Accounts and Cross-Border Remittances** - This method is primarily for personal consumption needs such as travel or education, allowing some funds for overseas financial investments under strict compliance [10]. - Opening an overseas bank account requires adherence to the annual USD 50,000 foreign exchange purchase limit and compliance with usage declarations [11]. - The process involves opening an account abroad, compliant currency exchange, and remitting funds for investment [11]. - Important considerations include potential policy risks, legal responsibilities, and the complexity of operations [11].

2025年前四个月，共有57位作为基石投资者，参与13宗港股IPO项目，占今年成功上市公司的76.47%。 A 一般来说，成为基石投资者，需要经历的流程包括： 1.拟上市公司交表并接受聆讯； 基石投资者的累计投资金额达到67.71亿港元，占总募资金额的31.79%，平均每笔投资金额约为1.19亿港元。 此外，2025年前四个月的基石累计投资金额，较2024年同期的19.31亿港元，同比增长250.65%，由此预计2025年基石层面的投资或能超越2022年。 Cornerstone Investor，基石投资者是港股IPO中一项重要的制度安排，指在IPO发行前，基石投资者与发行人签署认购协议，承诺以IPO价格认购发行人一定 份额股票的投资者。 由于基石投资者往往是知名的投资机构，比如大型银行、对冲基金、私募基金、国家主权基金等，这些机构认购之后还需要按照港交所上市守则的规定锁定 6个月以上。 因此对于市场而言，如果发行人受到基石投资人的追捧，会给市场释放乐观的信号，从而吸引更多的投资人参与IPO发行。 设计基石投资者制度的初衷是借助大型机构的信誉为赴港上市的内地企业向市场十分积极信号，提高散户参与新股发行，同时 ...