Terms of Service

Last Updated: June 1, 2026

Welcome to capital.hezhao.net (the "Website", "Service"). This Website is owned and operated by Travel Capitalist ("we," "us," or "our").

By accessing our newsletter, website, or consultancy services, you agree to comply with and be bound by the following Terms of Service. If you do not agree, please do not use our services.

1. No Investment Advice (Financial Disclaimer)

IMPORTANT: All content provided on capital.hezhao.net, including but not limited to newsletters, research reports, articles, and consultancy sessions, is for educational and informational purposes only.
  • We are not registered investment advisors, brokers, or financial analysts.
  • No content on this site constitutes a recommendation, endorsement, or offer to buy or sell any security or financial instrument.
  • You assume full responsibility for your own investment decisions. Past performance is not indicative of future results. Consult a licensed financial professional before making any investment decisions.

2. Intellectual Property

All content, logos, graphics, research, and analysis published on capital.hezhao.net are the intellectual property of Travel Capitalist.

  • Paid Subscribers: Your subscription grants you a personal, non-transferable, non-exclusive license to read the content.
  • Prohibited Use: You may not redistribute, resell, forward, republish, or exploit any of our research reports or newsletter content without explicit written permission.

3. Subscription Fees and Cancellations

  • Billing: Paid newsletter tiers or consulting retainers are billed on a recurring basis (monthly/annually).
  • Refunds: Due to the immediate, digital nature of information delivery, all sales are final and non-refundable unless otherwise stated.
  • Cancellation: You can cancel your subscription at any time through your account settings. Your access will remain active until the end of your current billing cycle.

4. Limitation of Liability

To the fullest extent permitted by law, capital.hezhao.net and its creators shall not be liable for any direct, indirect, incidental, or consequential damages (including, without limitation, investment losses, lost profits, or data loss) resulting from your use of or inability to use our services.

5. Governing Law

These Terms shall be governed by and construed in accordance with the laws of Delaware, without regard to its conflict of law provisions.