Skip to content
StockAccess
China · SPY

Can you buy the S&P 500 as a token in China?

Short answer: no. SPYx, the token sold on Pump.fun and Kraken, isn't offered to people living in China. Here's why, and what you can do instead.

Updated

Why you can't buy it here

Because of China's own rules on crypto platforms, we don't list Pump.fun or any other app here.

What you can do instead

  • Mainland China limits how much money people can move abroad and what it can be used for, so opening a foreign broker account isn't a simple option.
  • The approved route is a QDII fund sold by mainland fund companies and banks. Some of these track US indexes, including the S&P 500.
  • Hong Kong and Macau have their own, separate rules.

About the S&P 500

The S&P 500 is an index of about 500 of the biggest US listed companies, from Apple and Nvidia to banks and supermarkets. SPY, run by State Street, is the oldest US fund that tracks it, so one share gives you a small slice of all of them.

Other ways to get exposure to the S&P 500

Good to know in China

  • In September 2021, the People's Bank of China and nine other agencies said crypto trading is illegal in mainland China — and that includes overseas platforms serving people there.
  • Buying foreign currency as an individual is subject to SAFE's yearly allowance.
  • This guide covers mainland China. Hong Kong and Macau have their own, separate rules.
  • Gains may be taxable. A local tax adviser can tell you how.

Who regulates this

Full guide for China

Questions people ask

Can I buy SPYx in China?

No. Because of China's own rules on crypto platforms, we don't list Pump.fun or any other app here.

Can I use a VPN to get around it?

Please don't. Getting around location blocks, sanctions or ID checks breaks the app's rules, can get your money frozen, and may be illegal.

What can I do instead?

Mainland China limits how much money people can move abroad and what it can be used for, so opening a foreign broker account isn't a simple option.

Other stocks in China

Buying the S&P 500 from somewhere else?

Sources (15)
  1. 1.
    SPDR S&P 500 ETF Trust (SPY) fund page

    State Street Global Advisors · official

  2. 2.
    S&P 500 index page

    S&P Dow Jones Indices · official

  3. 3.
  4. 4.
    China Securities Regulatory Commission (CSRC)

    China Securities Regulatory Commission (CSRC) · regulator

  5. 5.
    People's Bank of China

    People's Bank of China · regulator

  6. 6.
    State Administration of Foreign Exchange (SAFE)

    State Administration of Foreign Exchange (SAFE) · regulator

  7. 7.
  8. 8.
    Pump.fun Fees page

    Pump.fun · platform

  9. 9.
  10. 10.
    xStocks partner FAQ

    xStocks · official

  11. 11.
    Notice on further preventing and handling virtual currency trading risks (2021)

    State Council of the People's Republic of China · official

  12. 12.
  13. 13.
    Guidance on reporting overseas income (July 2025)

    State Taxation Administration · official

  14. 14.
    Personal foreign exchange policy FAQ

    State Administration of Foreign Exchange · official

  15. 15.
    QDII investment quota approvals (June 2025)

    State Administration of Foreign Exchange · official

Last updated .