Hong Kong Enhances Cross-boundary Wealth Management Connect Pilot Scheme in the Greater Bay Area – Refines GBA Residents Eligibility Criteria, Allows
29th September 2023 | Hong Kong
Hong Kong has announced the enhancement of the Cross-boundary Wealth Management Connect Pilot Scheme in the Greater Bay Area (Guangdong-Hong Kong-Macao), 1) Refining GBA residents eligibility criteria, 2) Allows eligible securities firms to distribute investment products & services to Southbound & Northbound Investors, 3) Expands Southbound & Northbound products, 4) Increase individual investor quota, 5) Enhances promotion & sales arrangement. Hong Kong Monetary Authority (HKMA): “To implement the national strategy of developing the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), deepen the financial cooperation between the Mainland, Hong Kong and Macao, and facilitate their synergistic economic development, the People’s Bank of China, the National Administration of Financial Regulation, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, the Hong Kong Monetary Authority, the Securities and Futures Commission of Hong Kong and the Monetary Authority of Macao have decided to further enhance the Cross-boundary Wealth Management Connect Pilot Scheme (the Scheme) in the GBA. The financial regulators in the Mainland, Hong Kong and Macao will revise and refine the relevant implementation details and operational guidance with a view to implementing the above measures as soon as practicable. Meanwhile, the Scheme will be enhanced continuously based on its operations, and the financial market connectivity in the GBA will be advanced in a prudent and orderly manner to support the development of the GBA.” More info below:
“ Hong Kong Enhances Cross-boundary Wealth Management Connect Pilot Scheme in the Greater Bay Area – Refines GBA Residents Eligibility Criteria, Allows Eligible Securities Firms to Distribute Investment Products & Services to Southbound & Northbound Investors, Expands Southbound & Northbound Products, Increase Individual Investor Quota, Enhances Promotion & Sales Arrangement “
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Hong Kong Enhances Cross-boundary Wealth Management Connect Pilot Scheme in the Greater Bay Area Hong Kong | Leading Financial Centre in Asia
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