46,000 Hong Kong and Macao individual investors participate in the "Cross-border Financial Management Connect" business

　　China News Service, Guangzhou, February 26 (Reporter Xu Qingqing) According to the Guangdong Branch of the People's Bank of China, the newly revised "Implementation Rules for the "Cross-border Wealth Management Connect" Business Pilot in the Guangdong-Hong Kong-Macao Greater Bay Area were officially implemented on the 26th.

　　Data released by the bank shows that as of the end of January 2024, the number of individual investors in the Guangdong-Hong Kong-Macao Greater Bay Area participating in the "Cross-border Wealth Management Connect" business reached 71,000, including 46,000 Hong Kong and Macao individual investors and 25,000 mainland individual investors. million people; the amount of cross-border financial remittances was 13.8 billion yuan (RMB, the same below), including 13.013 billion yuan for "southbound connections" and 787 million yuan for "northbound connections".

　　According to reports, the new version of "Cross-border Wealth Management Connect" absorbs the opinions and demands of investors and participants in the markets of Guangdong, Hong Kong and Macao, focuses on improving convenience, broadening the market, and standardizing services, and mainly optimizes four aspects.

These include optimizing investor access conditions, lowering the participation threshold for mainland individual investors in the "Southbound Link" business from "continuous payment of social security or personal income tax for 5 years" to "2 years", and adding "individuals for the past 3 years". "The average annual income is not less than 400,000 yuan" is an optional condition for household financial asset access to support more residents in the Greater Bay Area to participate in the pilot.

　　At the same time, the new version of "Cross-border Financial Management Connect" has increased the limit for individual investors from 1 million yuan to 3 million yuan.

If an individual participates in the pilot through a bank and a securities company at the same time, each of the two channels has a quota of 1.5 million yuan.

Broaden the scope of business pilots, increase the number of securities companies participating in the pilots, include the RMB deposit products of mainland selling banks into the scope of eligible products for "Northbound Connect", and expand the scope of public securities investment funds from "R1 to R3" to "R1 to R4" risk levels ( Excluding commodity futures funds), it can better meet the diversified investment needs of residents in the Greater Bay Area.

　　In addition, the new version of "Cross-border Wealth Management Connect" further refines and clarifies the business conduct regulations for domestic sales agencies and domestic cooperative agencies.

　　"Before the launch of the business, many investors have paid close attention and made inquiries." The relevant person in charge of the Guangdong Branch of the Bank of China said that after the new version of the "Cross-border Wealth Management Connect" policy is implemented, it will better meet the asset allocation and needs of residents in the Greater Bay Area. Financial investment needs, promote the interconnection of financial markets in the Guangdong-Hong Kong-Macao Greater Bay Area, and effectively promote the economic integration of people's livelihood in the Greater Bay Area.

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