I have seen a lot of similar news recently, mainly about the CRS system. Generally speaking, when opening an account in Hong Kong and copying US stocks, the data will be transmitted back. Hong Kong, Macau, Singapore, Japan, South Korea, and Vietnam in Asia are all in the CRS system. Therefore, even if you open an account in these countries or regions, you are still a tax resident of China, and your financial information will be transmitted back to China. It should be noted that if you hold an EP and reside in Singapore for more than 183 days within a year, you will become a tax resident of Singapore, and your information will not be returned. In addition, there is no CRS relationship between the United States and China. Although there is a FATCA system, FATCA only transmits unilaterally. That is, China needs to transmit the information of US tax citizens, but the United States will not transmit it to China. Therefore, if you open an account with a US securities firm, CRS cannot obtain your securities information. Of course, China is a global taxpayer, and as a qualified taxpayer, it is obliged to proactively declare taxes. Whether or not it can be seen through CRS, proactive taxation is an obligation that tax residents should fulfill.