China News Service, Beijing, February 26 (Reporter Xia Bin) A survey of the "Cross-border Wealth Management Connect" in the Greater Bay Area released by HSBC on the 26th stated that the new version of the "Cross-border Wealth Management Connect" business pilot in the Guangdong-Hong Kong-Macao Greater Bay Area that took effect on that day Implementing Rules" (hereinafter referred to as the "Implementing Rules") will help enhance the attractiveness of this cross-border investment mechanism.
The survey shows that about two-thirds of the respondents said that the optimization measures in the implementation rules such as relaxing entry requirements, increasing investment quotas, and expanding product selection will attract them to participate in or increase investment in "Cross-border Wealth Management Connect".
After the release of the new version of the implementation rules, HSBC conducted an online survey among more than 2,000 residents in 11 cities in the Greater Bay Area from January to February 2024, aiming to understand their interest and preferences in cross-border investment after the release of the implementation rules.
The survey found that with the increase in personal investment quotas, about a quarter of the respondents who have participated in or are interested in investing expressed their intention to invest 1 million yuan (RMB, The same below) or more.
On average, respondents expected to invest approximately 710,000 yuan, with an expected annualized rate of return of 7.7%.
In terms of investment preferences, the survey shows that energy, technology, natural resources, biotechnology and finance are the investment areas that respondents are most optimistic about, and more than 80% of the respondents expressed the need for banks to provide cross-border financial advisory services.
Chen Qingyao, vice president of HSBC China and general manager of the Greater Bay Area Office, said that the entry into force of the new version of the implementation rules has brought new impetus to the growth of cross-border investment by residents in the Greater Bay Area and the integration of financial markets.
The survey shows that in addition to market opportunities, diversified investment needs and other factors, in-depth understanding of products and professional wealth planning and consulting services are also important considerations for respondents to participate in or increase investment.
It is reported that in order to meet new market demands, HSBC has upgraded the "Cross-border Wealth Management Connect" service in accordance with the implementation details. Currently, HSBC can provide a total of about 250 products covering low to medium and high risks to investors from the north and south, including more than 100 overseas investment products. Market’s Southbound Fund.
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