Greater Bay Area Banking

Greater Bay Area Banking

Cross-boundary Wealth Management Connect Scheme

Cross-boundary Wealth Management Connect Scheme The Implementation Arrangements of the Cross-boundary Wealth Management Connect Scheme was officially announced by the regulatory authorities in the Mainland and HKMA on 10 September 2021.

To facilitate cross-boundary investment by individual residents in the Guangdong-Hong Kong-Macao Greater Bay Area (the “Greater Bay Area”), the People’s Bank of China, the Hong Kong Monetary Authority, and the Monetary Authority of Macao have decided to implement the Cross-boundary Wealth Management Connect Scheme (“Wealth Management Connect”) in the Greater Bay Area.

Wealth Management Connect refers to the arrangement under which individual residents in the Greater Bay Area (comprises the two Special Administrative Regions of Hong Kong and Macao, and the nine municipalities of Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing in Guangdong Province) carry out cross-boundary investment in wealth management products distributed by banks in the Greater Bay Area. The scheme has southbound and northbound components, depending on the residency of the investors.

Under Southbound Wealth Management Connect, residents of the Mainland cities in the Greater Bay Area can invest in eligible investment products distributed by banks in Hong Kong and Macao by opening designated investment accounts with these banks.

Under Northbound Wealth Management Connect, residents of Hong Kong and Macao can invest in eligible wealth management products distributed by Mainland banks in the Greater Bay Area by opening designated investment accounts with these banks.
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