Cross-boundary Wealth Management Connect Scheme in the Guangdong-Hong Kong-Macao Greater Bay Area
The Cross-boundary Wealth Management Connect Scheme in the Guangdong-Hong Kong-Macao Greater Bay Area (“Cross-boundary WMC”) is one of the key initiatives under the mutual market access schemes between the capital markets of Hong Kong, Macao and the Mainland. It allows eligible Mainland, Hong Kong and Macao residents in the Guangdong-Hong Kong-Macao Greater Bay Area (“GBA”) to invest in wealth management products distributed by banks in each other’s market through a closed-loop funds flow channel established between their respective banking systems.
The Cross-boundary WMC consists of the Northbound Scheme and the Southbound Scheme:
- Northbound Scheme refers to eligible residents in Hong Kong and Macao investing in eligible investment products distributed by Mainland banks.
- The Southbound Scheme refers to eligible residents in the Mainland GBA cities investing in eligible wealth management products distributed by banks in Hong Kong and Macao.
The Cross-boundary WMC was launched on 10 September 2021, providing more options of wealth management products for residents in the GBA. For the initial stage, the product scope under the Cross-boundary WMC mainly covers relatively simple wealth management products of low-to-medium risk. Investors are required to open one bank account with cross-boundary remittance function (“dedicated remittance account”) and one bank account with investment function (“dedicated investment account”) with banks in their place of residence and the other market respectively, and have the two accounts paired with each other. Cross-boundary renminbi fund flows are subject to closed-loop and quota management.
Details of the Northbound Scheme for Hong Kong investors:
Other information of the Northbound Scheme:
List of Hong Kong and Mainland banks participating in the Northbound Scheme (HKMA)
Details of the Northbound Scheme (HKMA)
Frequently asked questions (HKMA)
Implementation Arrangements for the Cross-boundary Wealth Management Connect Pilot Scheme in the Guangdong-Hong Kong-Macao Greater Bay Area, Regulatory Requirements on the Northbound Scheme (HKMA)
Information of the Southbound Scheme:
Details of the Southbound Scheme (HKMA)
Deposit Protection Scheme (Hong Kong Deposit Protection Board)
Know about fund products (IFEC)
A Quick Guide to Hong Kong’s Financial System and Services (IFEC)