China News Service, Guangzhou, February 26 (Reporter Guo Jun) The newly revised "Implementation Rules for the "Cross-border Wealth Management Connect" Business Pilot in the Guangdong-Hong Kong-Macao Greater Bay Area (hereinafter referred to as "Cross-border Wealth Management Connect 2.0") will be officially implemented on the 26th. .

Markets in many places in the Guangdong-Hong Kong-Macao Greater Bay Area have responded enthusiastically.

  Cross-border Wealth Management Connect 2.0 further lowers the entry threshold for investors, expands the scope of eligible products, and increases the investment limit of a single investor from 1 million yuan (RMB, the same below) to 3 million yuan.

  On that day, Standard Chartered Bank (China) Limited (hereinafter referred to as "Standard Chartered China") and Standard Chartered Bank (Hong Kong) Limited (hereinafter referred to as "Standard Chartered Hong Kong") launched a number of products under the "Southbound Trading" and "Northbound Trading" respectively. Brand new product.

Standard Chartered Bank has welcomed many "first-day early adopter" customers in its branches and branches in Guangzhou, Shenzhen, Hong Kong, Foshan and Zhuhai in the Guangdong-Hong Kong-Macao Greater Bay Area.

  It is reported that Standard Chartered Bank has increased the number of "Southbound Connect" financial products to nearly 550, covering medium and high risk funds including funds that mainly invest in the stock market and low to medium risk bonds.

"Northbound Connect" has added RMB deposit products and more than 40 publicly raised securities investment funds with a risk level of R4, covering new economic industries such as new consumption, new energy, new infrastructure, new manufacturing, and new technology.

  Bank of China Guangdong Branch (hereinafter referred to as "Guangdong Bank") also successfully launched the first batch of cross-border Wealth Management Connect 2.0 business on the same day.

  "Many friends around me have begun to increase their RMB asset allocation. I heard that Wealth Management Connect can also invest in mainland RMB deposit products, so I quickly tried it." Mr. Chen from Macau immediately contacted the Bank of China mobile phone after the "Cross-border Wealth Management Connect 2.0" policy was implemented. The bank purchased the first RMB deposit of "Northbound Link" online.

  Ms. Hu from Foshan also completed a "Southbound Link" transaction worth 3 million yuan that day and purchased an investment product from BOC Hong Kong.

"I have invested 1 million yuan before, but the amount is still small. Now it has been increased to 3 million yuan, which is really good." Ms. Hu said.

  It is reported that the "Cross-border Wealth Management Connect" is an important measure taken by the state to support the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and promote the interconnection of the financial markets in the Greater Bay Area.

Since the launch of the business more than two years ago, the business scale of Guangdong Bank of China has grown steadily.

Up to now, more than 20,000 individual investors have signed up for the "Southbound Link" and "Northbound Link" business through Guangdong Bank of China, and the fund transfer transaction volume has exceeded 4 billion yuan.

  The relevant person in charge of Guangdong Bank of China said that with the optimization and upgrading of Cross-border Wealth Management Connect 2.0, the number of participants and the scale of investment are expected to be further expanded.

  Lin Yuandong, CEO of Standard Chartered Bank Greater Bay Area, said that since the launch of Cross-border Wealth Management Connect, customers have responded very enthusiastically, with the number of participants and the amount of remittances increasing steadily.

Last year, the amount of cross-border wealth management "Southbound Link" remittances of Standard Chartered customers increased five times compared with 2022.