Except HSBC knows 99/100 of the time, those bidders in PRC are actually wealthier bidders and that the irregular paperwork is perfunctory to the fact that the system has spend decades building loopholes for said wealthy PRC buyers with developed methods of capital flight, which has always made them better candidates than "honest" Canadians. Occasional fraud doesn't have outsized effect to the very real fact that there are simply more wealthy PRC buyers than Canadian ones, and sellers/bankers/ everyone who gains in the transactions wants it that way. Honest Canadians with 200k household income and 10% down can't compete against PRC buyer with millions of slightly illiquid assets. These PRC buyers are the same as rich Indian/Iranian/insert elite from other country buyers, there's just a shit load more of them and they have to jump through more hoops due to capital controls on PRC's end which Canada RE system is all too happy to ignore.