Subject: Re: Investing safely in China
For a pure play, you can open an interest-paying multi-currency bank account in HSBC Hong Kong in RMB (making sure to file annual reports to US government if a US citizen). Otherwise, purchasing Chinese shares on the Hong Kong exchange through Interactive Brokers is another strategy, but is subject to both business risk as well as potential US restrictions on ownership in the future (thinking of the worthless shares of Lukoil I bought before the Ukraine war).

Jeff