China News Service, Shenzhen, November 23 (Zhu Zuying) The People's Bank of China Shenzhen Central Sub-branch issued a news on the 23rd that since October 19, 2021, the “Cross-border Financial Link” business in the Guangdong-Hong Kong-Macao Greater Bay Area was launched. Twenty banks within Shenzhen's jurisdiction have completed pilot filings, and investors from the Mainland, Hong Kong and Macau have actively participated.
In the first month of opening, the accumulated business scale in Shenzhen exceeded 100 million yuan (RMB, the same below).
It is reported that as of November 19, 20 pilot banks in Shenzhen have opened a total of 5,079 accounts related to "Cross-border Wealth Management" business, handled 104 million yuan of cross-border fund transfers, and individual investors who participated in "Cross-border Wealth Management". A total of 54.184 million yuan of investment products have been purchased.
The relevant person in charge of the Shenzhen Central Branch of the People’s Bank of China introduced that “Cross-border Wealth Management” business processing shows that transactions in both the north and the south are more active, the business area is mainly Shenzhen and Hong Kong, and the north-south investors have a slight preference for investment products. Differences, the active participation of various types of banks, etc.
Among them, a total of 2,105 people from Hong Kong and Macau participated in the Northbound Link, the amount of cross-border transfer of funds was 54.524 million yuan, and the transaction volume of investment products was 39.591 million yuan; a total of 2974 people from the Mainland participated in the Southbound Link, and the amount of cross-border transfer of funds was 49.456 million yuan. The transaction volume was 14.593 million yuan.
From the perspective of fund transfers, the Shenzhen area and Hong Kong handled a total of 91.214 million yuan of fund transfers, accounting for 87.7% of the total fund transfers.
Among them, the Northbound Link Hong Kong investors handled 54.522 million yuan of capital transfer, and the South Link handled 36.692 million yuan of capital transfer in Hong Kong.
In addition, Southbound investors prefer deposits, and Northbound investors prefer wealth management products.
Under the Northbound Link, Hong Kong and Macao individual investors purchased 39.59 million yuan of domestic investment products, including 27.918 million yuan in wealth management products and 11.672 million yuan in fund products; under the Southbound Link, mainland individual investors purchased a total of 14.593 million yuan in Hong Kong and Macao investment products, including Deposits were 13.958 million yuan and investment funds were 635,000 yuan.