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Can foreigners purchase Chinese fund products? If not, what laws and regulations do the specific provisions come from?

Chinese citizens are not legally allowed to buy foreign funds or stocks. Of course, you can open an account in Hong Kong and conduct illegal transactions, or you can conduct transactions through some illegal underground trading channels, but you are at your own risk.

If you still want to invest in foreign stock markets, QDII funds are the only way to go now. However, given last year’s disastrous returns and most fund managers showing operational problems, it is not recommended.