Hongkong is being serious with the crypto. They usually do things in order to keep up with what USA does. And that rivalry has made them to get the ETF race too. And they have now approved the Bitcoin ETF and that is now approved too. And now they are moving towards the application of the Etheruem ETF now. So this new direction is also good in the long term. 

What does this mean for the Chinese consumers? It means they have now new options for investment. Which also means that there would be some liquidity coming in market. So after the collapse of the real estate market, they are going to be making the further manipulation of the market with the crypto which crosses the borders. 

For international users this means there would be more money moving in the market. Though this would be internal market money. So unless the DeFi money is moved, there is no benefit for the international users there. In short this would not be easy for the investors to rely on such funds on demat accounts of the international forex market with Chinese market. 

More Chinese financial firms would be investing into the BTC and the ETH. And this would be a good direction for them but let's see how this impact in grand scheme of things for consumers.