Southern Metropolis News reporter Ye Linfang On November 23, the reporter learned from the People’s Bank of China Shenzhen Central Sub-branch that as of November 19, in the first month of “Cross-border Wealth Management”, Shenzhen’s cumulative business scale exceeded 100 million yuan, accounting for the entire Guangdong, Hong Kong and Macao. The total business volume of “Cross-border Wealth Management” in the Greater Bay Area is nearly 40%.
As of November 19, 20 pilot banks in Shenzhen have opened a total of 5,079 “Cross-border Financial Links” business related accounts, handled cross-border fund transfers of 104 million yuan, and individual investors participated in “Cross-Border Financial Links”. Purchased 54.184 million yuan of investment products, which accounted for 39.0%, 39.5% and 36.2% of the total business volume of “Cross-border Financial Link” in the Guangdong-Hong Kong-Macao Greater Bay Area respectively.
Both the north and the south are more active, and the business area is dominated by Shenzhen and Hong Kong
Transactions in the north and south directions are relatively active.A total of 2,105 people from Hong Kong and Macau participated in the Northbound Link, with a cross-border transfer of funds of 54.524 million yuan, and a transaction volume of 39.591 million yuan in investment products; a total of 29.74 people from the Mainland participated in the Southbound Link, with a cross-border transfer of funds of 49.456 million yuan, and a transaction volume of investment products. 14.593 million yuan.
The main business area is Shenzhen-Hong Kong.From the perspective of “Cross-border Financial Link” related account openings, Shenzhen has opened a total of 4,987 accounts with Hong Kong, accounting for 98.2% of the total number of accounts opened. Among them, Nanxiangtong Hong Kong remittance accounts account for 2,907 remittance accounts, accounting for Nanxiangtong. 97.7% of the total number of remittance accounts; 2080 Northbound Hong Kong investors accounted for 98.8% of the total Northbound Investor accounts.
From the perspective of capital transfers, Shenzhen area handled 91.214 million yuan of capital transfers with Hong Kong, accounting for 87.7% of the total capital transfers. Among them, Northbound Hong Kong investors handled 54.522 million yuan of capital transfers, accounting for Northbound transfers. 100% of the total amount; Nanxiangtong handled 36.692 million yuan of fund transfer in Hong Kong, accounting for 74.2% of the Nanxiangtong fund transfer amount.
Southbound funds favor deposits and northbound funds are optimistic about financial management
North and South investors have slightly different preferences for investment products.Southbound investors prefer deposits, and Northbound investors prefer wealth management products. Under the Northbound Link, Hong Kong and Macao individual investors purchased 39.591 million yuan of domestic investment products, including 27.918 million yuan in wealth management products and 11.672 million yuan in fund products, accounting for 70.5% and 29.5% respectively; under the Southbound link, mainland individual investors A total of 14.593 million yuan of investment products from Hong Kong and Macau were purchased, including 13.958 million yuan in deposits and 635,000 yuan in investment funds, accounting for 95.6% and 4.4% respectively.
All types of banks are actively participating.6 state-owned banks opened 3136 accounts for individual investors and handled 58.227 million yuan of funds transfer, accounting for 61.7% and 56.1% respectively; 7 joint-stock banks opened 1,335 accounts for individual investors and handled fund transfers 27.131 million yuan, accounting for 26.3% and 26.1% respectively; 7 foreign banks opened 608 accounts for individual investors and handled 18.521 million yuan in capital transfers, accounting for 12% and 17.8% respectively.
Some banks expressed that investors are more interested in the facilitation of business processes and received positive feedback
As the first batch of pilot banks to carry out “Cross-border Wealth Management Link” services, the reporter learned from Hang Seng Bank (China) Co., Ltd. (“Hang Seng China”) that the “Southbound Link” and “Northbound Link” investment accounts opened in the first month Each accounted for half. At present, investors are more interested in fund investment products.
Judging from the current situation, individual investors in Hong Kong and Macau prefer funds issued by public fund managers with certain brand awareness, rich asset management experience, and strong strength. Investment strategies tend to be fixed income + strategies and short-term bond funds and other investment products. These low- and medium-risk products have improved returns compared with ordinary fixed deposits, and they also take into account advantages such as liquidity.
According to the Shenzhen Bank of China, in the past month, nearly 2500 individual investors have handled “Southbound” and “Northbound” accounts through Shenzhen Bank of China. It is understood that nearly 70% of Hong Kong and Macao residents who participated in the “Northbound Link” investment in the Shenzhen area have the intention to choose Shenzhen Bank of China as the mainland agency bank.
And how is the operating experience of Cross-border Finance Link? Mr. Liu, who has completed the cross-border remittance through wealth management, said: “It’s really convenient, and it can be operated on a mobile phone.” He was full of praise for the services of Shenzhen Bank of China. During the remittance operation, there is no need to fill in the name, domestic and overseas binding account information, and the system will automatically respond. You only need to simply fill in the remittance amount and other information, and the funds can be instantly remitted to the bound Hong Kong and Macau cooperative bank investment account. You can purchase investment products smoothly.
In the next step, the People’s Bank of Shenzhen will increase market research with pilot banks, actively collect business demands from market entities, strengthen communication and coordination with Hong Kong and Macao financial regulatory authorities, and research and solve related problems of blocking and pain points under the premise of controllable risks, and further improve business Convenience in handling and promote the sustainable and healthy development of the “Cross-border Financial Link” business.Return to Sohu to see more
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