Hkma Unveils Cross: border wealth management scheme in Greater Bay Area

Greater Bay Area Dynamic Growth Holding

10/09/2021 09:02

HONG KONG, Sept 10 (Reuters) - Hong Kong Monetary Authority
(HKMA) on Friday announced the implementation arrangement for
the Cross-Boundary Wealth Management Connect pilot scheme in
Guangdong-Hong Kong-Macao Greater Bay Area to facilitate
cross-boundary investment by individual residents in the area. 
    The aggregate quota for the southbound and northbound scheme
 is initially set at 150 billion yuan  ($23.29 billion) each,
HKMA said in a statement. 
    Eligible wealth management products under the southbound
scheme include investment products, also yuan, Hong Kong dollar
and foreign currency deposits, it said. 

($1 = 6.4403 Chinese yuan renminbi)

 (Reporting by Twinnie Siu and Meg Shen; Editing by Philippa
Fletcher)
 ((twinnie.siu@tr.com; 852-3462 7715;))