Should SAFE cancel its hukou or Shanghai nationality when applying for large-sum immigration?

According to official website, the Shanghai Branch of the State Administration of Foreign Exchange will cancel its account when applying for large-sum immigration. Household registration refers to the system of registering and counting the personal identity of residents in a specific administrative area. Immigration means that individuals must move from one country or region to another and resettle in the destination country or region. Because, in order to comply with the regulations of Shanghai Municipal Administration Bureau, immigrant applicants need to cancel their Shanghai hukou when going through civil procedures.