According to the "Notice", individuals and institutions in China should subscribe for and purchase funds, and redeem or pay dividends through banks; Residents can only use their foreign exchange deposits deposited in domestic banks to subscribe for and purchase funds, and may not directly use foreign currency cash, and institutions may not use foreign exchange funds in debt.

Unlike bank QDII products, fund QDII products are only raised in foreign currency. Among them, it is divided into foreign exchange deposits and foreign currency cash. Experts explained that according to the provisions of the Notice, both banknote holders and remittance holders can be used for subscription and subscription of QDII products of the fund.

"Compared with related products of banks, investors are subject to more restrictions on purchasing QDII products of funds." An industry expert said that the reason may be that the fund will be able to invest in the stock market in overseas markets, which is more risky than the fixed-income products invested by banks.

Previously, ICBC, Bank of China, Bank of Communications and other commercial banks have launched corresponding overseas wealth management products. Investors can directly purchase RMB foreign exchange and entrust banks to make overseas investments. After the maturity, the principal income will be converted into RMB, and the expected income will be around 5%.

However, investors can only use their own foreign exchange when purchasing the fund's foreign exchange wealth management products. The foreign exchange bureau also stipulates that individuals who subscribe for or purchase funds may not use foreign currency cash directly, but can only use their foreign exchange deposits deposited in domestic banks. Domestic institutions may not subscribe for or purchase funds with debt foreign exchange funds.

At the same time, the foreign exchange funds obtained by individuals from fund redemption and fund dividends are transferred to their foreign exchange deposit accounts by banks. Individuals may not directly withdraw cash from foreign exchange accounts or settle foreign exchange for overseas securities investment. Foreign exchange funds obtained by domestic institutions from fund redemption or fund dividends shall be transferred back to their original foreign exchange accounts by banks.

"The funds of note holders and foreign exchange holders should be purchasable, because they are all foreign exchange deposits." A foreign exchange trader of a bank believes that the reason why residents can't buy in foreign currency cash may be due to security and monitoring considerations. "If residents leave the bank to buy foreign currency cash, it will not be conducive to the monitoring and transfer of funds."