China / FX

China/HK: GBA Wealth Connect is coming

Nathan Chow / July 09, 2020
The PBoC and its Hong Kong and Macau counterparts have recently announced plans to establish a cross-boundary Wealth Management Connect pilot scheme in the Greater Bay Area.
Key summary points
  • Wealth Management Connect is the 4th cross-border investment channel…
  • … between Hong Kong and mainland China since 2014
  • Wealth managers stand to benefit given Guangdong’s massive affluent population
  • At the initial stage, the scheme will cover mainly investment products with relatively low risk
  • The channel enables closed-loop RMB funds flow across the border to contain financial risks

China/HK: GBA Wealth Connect is coming

Photo credit: AFP Photo

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