The reason for this is the following：
According to the provisions of Article 9 of the Measures for the Administration of Domestic Securities Investment Fund Management Companies, the domestic shareholders with the highest proportion of capital contribution in Sino-foreign joint venture fund management companies shall meet the requirements of major shareholders as stipulated in the second paragraph of Article 7 of these Measures; Other domestic shareholders shall meet the conditions stipulated in Article 8 of these Measures.
An overseas shareholder of a Sino-foreign joint venture fund management company shall meet the following conditions:
(1) It is a financial institution established in accordance with the laws of the country or region where it is located, legally existing and having experience in financial asset management, with sound finances and good credit standing, and has not been punished by the regulatory authorities or judicial organs in the last three years;
(2) The country or region where it is located has a sound securities law and regulatory system, and its securities regulatory agency has signed a memorandum of understanding on securities regulatory cooperation with the China Securities Regulatory Commission or other institutions recognized by the China Securities Regulatory Commission, and maintained an effective regulatory cooperation relationship;
(3) The equivalent convertible currency with paid-in capital of not less than 300 million yuan;
(4) Other conditions approved by the State Council and stipulated by the China Securities Regulatory Commission.
The provisions of the preceding paragraph shall apply mutatis mutandis to investment institutions in Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan Province Province.
Of course, this is a requirement for shareholders. Compared with the restrictions of non-Americans, as long as you have enough funds, there is no problem in stock trading!
If you still have questions, you can search Baidu: "China students reveal Sun Tzu's Art of War in American Wall Street stock trading". Publishing website information is not allowed here.
If you are satisfied, please adopt it! thank you
I wish you success in your career!