Wealth Management Connect

The latest addition to the Connect Scheme, Wealth Management Connect, has been jointly announced by the People’s Bank of China, the Hong Kong Monetary Authority (the “HKMA”) and the Monetary Authority of Macao on 29 June 2020 (the “Joint Announcement”).

The new Wealth Management Connect scheme will be a pilot scheme and promises to facilitate cross-boundary investment by individual residents in the Guangdong-Hong Kong SAR-Macao SAR Greater Bay Area (the “GBA”) by allowing GBA residents to open and operate cross-boundary investment accounts directly with banks in the GBA.

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