Original title: The first batch of “Cross-border Wealth Management” services began to deepen the interconnection of the Greater Bay Area market
China News Service, Guangzhou, October 19th, title: The first batch of “Cross-border Wealth Management” services began to deepen the interconnection of the Greater Bay Area market
China News Agency reporter Guo Jun
On October 18, the Guangzhou Branch of the People’s Bank of China, the Shenzhen Central Sub-branch, the Hong Kong Monetary Authority, and the Macau Monetary Authority released the list of the first batch of pilot banks for “Cross-border Wealth Management”. The reporter learned that from the 19th, the “cross-border wealth management” business of various pilot banks has begun to land, further deepening the interconnection of the financial market in the Greater Bay Area.
It is reported that the “Cross-border Financial Link” business is an important measure to facilitate individual cross-border investment by residents of the Greater Bay Area and create a high-quality living circle of Guangdong, Hong Kong and Macao that is livable, business and travelable. On the 19th, the “Cross-border Wealth Management” business of Bank of China Guangdong Branch was officially launched. On the same day, 10 secondary branches and 52 cross-border financial service centers under the jurisdiction of the bank in 8 cities in the Bay Area were launched at the same time to fully meet the needs of residents in the Guangdong-Hong Kong-Macao Greater Bay Area for “cross-border wealth management services”.
“The mainland market is full of vitality. The’Cross-border Finance Link’ allows us to invest in the mainland market more conveniently and share the dividends of the mainland’s economic growth.” Mr. Li of Macau told reporters. On the same day, after completing the qualification review of “Cross-border Wealth Management Link” and “Northbound Link” at Bank of China Macau Shalitou Sub-branch, Mr. Li submitted an online contract application to Bank of China Hengqin Port Sub-branch through the domestic Bank of China mobile banking. After the system reported that the signing was successful, Mr. Li handled the remittance through Bank of China Mobile Banking and purchased domestic Bank of China fund products, completing the first implementation of the online “Northbound Link” business of Bank of China, Qin and Macao.
Like Mr. Li, Ms. Liu from Guangzhou was also the one who tasted the “top soup”. Ms. Liu has been paying attention to the trend of overseas capital market. When she learned that the business was launched, she came to the Bank of China Guangdong Branch “5G Smart+” as soon as possible. In the Bay Area Pavilion, through the “Guangdong-Macao Video Connection” service specially set up by the Bay Area Pavilion, we had a “one-to-one” online communication with the wealth management manager of the Macau Hongjieshi Sub-branch of Bank of China, and successfully handled the “Southward Link” business. Sign up.
Ms. Liu said, “Hong Kong and Macao have more diverse investment products than domestic ones. In addition to China, they can also invest in major global financial markets such as Europe and Asia Pacific. The launch of “Cross-border Finance Link” provides a new channel for us to invest in overseas capital markets. “
Lin Tong, General Manager of the Personal Digital Finance Department of Bank of China Guangdong Branch, said that after the release of the “Guangdong-Hong Kong-Macao Greater Bay Area “Cross-border Wealth Management” Business Pilot Implementation Rules”, relevant investor inquiries have increased significantly, and the bank has selected more than 100 Wealth management products and public funds to meet the diversified wealth management needs of investors.
Standard Chartered’s first batch of more than 100 “Cross-border Financial Link” investment products were launched on the market that day. Li Peilian, Vice President of Standard Chartered China Headquarters, said: “The implementation of’Cross-border Wealth Management’ not only means a major breakthrough in the interconnection of the financial market in the Greater Bay Area, but also a key step in the facilitation of personal cross-border investment. Under the current situation, the demand for high-quality investment opportunities from customers in the Greater Bay Area and even the interconnection needs between mainland China and major Asian markets have become more prominent. We look forward to taking this pilot as an important opportunity to promote cross-border business innovation in the Greater Bay Area.”
Lin Deming, Vice President of China Guangfa Bank, said that the “Cross-border Wealth Management” pilot program is a major milestone in further deepening the interconnection of the financial markets between the Mainland and Hong Kong and Macau, creating new momentum for accelerating the construction of a new domestic and international dual-cycle development pattern.
On the same day, China Guangfa Bank successfully implemented the first “Southbound Link” and “Northbound Link” business. It is reported that in Hong Kong, China Guangfa Bank cooperates with Citibank (Hong Kong) to provide investors with “cross-border financial management” services. It is one of the 19 pilot banks in Hong Kong. In Macau, China Guangfa Bank, through its Macau branch, provides investors with “cross-border wealth management services” and is one of the seven pilot banks in Macau. (over)