It has been nearly 2 years since China reformed the information disclosure rules of the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programmes, which were once a primary source of Chinese equity flow data for investors. Foreign investors, mostly more sophisticated institutional investors, have primarily used this channel to invest in A-share companies listed on the mainland. Hence, northbound capital is widely considered “smart money”. This review examines a paper that uses the 2024 reform as a natural experiment to assess how removing such informative, salient signals affects stock return volatility in China. Alongside the key findings, we catalogue the datasets underpinning the study and highlight supplementary sources for further research.