Fund valuation can judge the investment value of stocks. If the fund is highly valued, there will be bubbles and high investment risks. When the valuation of the fund is low, the fund has investment value. At present, funds with Hong Kong stocks as their investment targets are usually called QDII of Hong Kong stocks, mainly including ETF funds and graded funds. There are many QDIIs with Hong Kong stocks as investment targets, such as Yin Hua H shares, E Fund Asia Select, Harvest Hang Seng H, Harvest Hang Seng Index ETF and Southern Hang Seng Index ETF.