Personal opinion, if investment tax is levied on mainland investors for overseas investments, it will indirectly lead to the following phenomena:

A The identity of HK becomes valuable again, especially for those who do not want to immigrate, but are high net worth retail investors in the soaring cryptocurrency market.

B This will be a devastating blow to Chinese concept stocks and small-cap US stocks; the former will see the largest buying power weakened, while the latter will experience another wave of loss in liquidity for good imported retail investors.

C Dividend stocks will continue to be sought after, especially those that have continuously paid dividends for over 10 years and companies that can operate for over 100 years. Financial stocks are an exception.