Name: SCMP
Telephone: +852-2680-8888

bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

helpersCheckIsPostiesArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

moreOnThisArticles

urlAlias

commentCount

sponsorType

authorLocations

authors

paywallTypes

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

socialHeadline

headline

flag

firstTopic

glossary

flattenTypeIds

publishedDate

additionalInfoBoxes

images

image

relatedLinks

relatedNewsletters

__typename

createdDate

sponsor

factSheets

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

copyrighted

customTimezone

liveContents

Morning Studio editors

[Sponsored article]
For Hong Kong residents looking to expand their wealth management portfolios, the rapidly developing Greater Bay Area (GBA) now offers a range of new investment opportunities. Thanks to a pilot scheme connecting capital markets in the area, Hong Kong retail investors can for the first time open and operate cross-boundary investment accounts directly within one of the world’s most dynamic economic regions.
Launched in October last year, the Wealth Management Connect (WMC) scheme is the first two-way investment mechanism for retail investors in the GBA, and was jointly implemented by the financial regulators of Hong Kong, Macau and the mainland. The scheme permits eligible banks to facilitate cross-border investment by offering a range of wealth management products to GBA residents.
Wealth Management Connect to drive cross-border investment
With a population of more than 86 million and a combined GDP of US$1.6 billion – equivalent to 12 per cent of China’s total GDP – the GBA is set to play an important role in China’s future development plans.

The region is already home to many of the world’s leading corporations. According to a 2021 report by the World Economic Forum (WEF) in collaboration with international management consultancy Oliver Wyman, in 2020 more than 20 companies on the Fortune Global 500 had headquarters in the GBA. The region is also home to the headquarters of almost 100 financial institutions – banks, securities and insurance – that between them employ just under 13 per cent of financial services talent nationwide.
The WMC scheme will build on this, with the aim of establishing the GBA as an international financial hub through the promotion of cross-border trading and the diversification of investment products and channels. The scheme has already demonstrated the capability to move to a broader variety of products and cater to wider investment choices by providing more convenient retail customer access to northbound and southbound wealth management products in Hong Kong and on the mainland.
Investors in the GBA expect diverse products and risk diversification
The growing number of cross-border investment opportunities in the GBA also reflects changing customer needs and behaviours among investors. According to the WEF report, which surveyed northbound and southbound investors, 70 per cent of the region’s wealthy individuals have expressed strong interest in benefiting from WMC and other investment schemes – and increasing their investments in cross-border financial products as they become available.

Of those surveyed, almost 90 per cent said they plan to invest more overseas, their primary goal being risk diversification. But while almost 90 per cent of respondents have experience investing in stocks, the same proportion said they were unfamiliar with foreign financial products.
The survey also found that product diversity, effective investment recommendations and costs are the key drivers for investors. Southbound investors showed a clear preference for offshore products and global asset investments. For Hong Kong investors in particular, responsiveness and customised service are major criteria. This segment also shows a preference for partnering with Hong Kong local advisers for cross-border investment.
This is where wealth management support will be key. The WEF report found that those banks with strong onshore and offshore branches in the GBA will enjoy an advantage. That is because they can support the required operations by enabling cross-border account opening, vetting and transactions, complying with regulatory requirements, and building centralised and integrated operations.
Participating in Wealth Management Connect investment in Hong Kong
As one of the first banks to launch services under the WMC pilot scheme, HSBC is now providing Hong Kong customers with the support and expertise needed to fully realise these new investment opportunities. Leveraging on its standing as the largest international bank in the GBA, as well as being Hong Kong’s leading wealth manager, the lender is well positioned as a wealth management partner for Hong Kong investors.
HSBC Hong Kong has partnered with HSBC China to provide its GBA Wealth Connect service, allowing Hong Kong customers the opportunity to make cross-boundary investments. Customers that already have an HSBC China bank account in cities within the GBA region can directly apply for WMC northbound services through the HSBC China mobile app, offering them an easy route to begin investing in the region – especially convenient given the current travel restrictions.

Currently, Hong Kong-based investors can access Local Unit Trusts, distributed by HSBC China, which include selected products ranging from bonds to balanced funds and money market funds. HSBC will not charge remittance fees under HSBC GBA Wealth Connect for money transfers between accounts in mainland China and Hong Kong via mobile and online banking. The fee-free service is part of the bank’s enhanced digital cross-border banking capabilities for its customers.
Digital capabilities that offer customers convenient access to northbound financial products are a key feature of the HSBC GBA Wealth Connect service. Customers can invest in a range of products and manage their portfolio 24 hours a day with just a few clicks online or a few taps on the bank’s mobile app, where they can also receive timely and distinctive market insights.
To support potential investors, the bank has already set up some 60 GBA Wealth Management Connect Centres in existing GBA retail outlets, Hong Kong included, where dedicated staff will help customers with account opening and enquiries related to the WMC scheme.
As the GBA continues to grow and investment opportunities increase, HSBC’s GBA Wealth Connect service will provide customers with the trust, convenience and market insight that will allow them to capitalise on these opportunities and ultimately diversify their portfolios throughout the region.
HSBC is offering a remittance rebate of up to HK$800 for its HSBC GBA Wealth Connect-designated RMB savings account customers, with a minimum investment of 500,000 yuan via mobile or online banking, until June 30. Find out more at https://www.hsbc.com.hk/banking/greater-bay-area/wealth-connect/
Investment involves risk. Terms and conditions apply.


How HSBC helps Hong Kong residents access new investment opportunities in the GBA

Greater Bay Area opens door to new opportunities for Hong Kong investors

GBA opens doors to investment

HSBC

The Greater Bay Area is a burgeoning international financial hub that offers new opportunities for Hong Kong investors. Photo: Shutterstock

HSBC’s GBA Wealth Connect service offers customers the advantage of digital banking and investment services. Photo: Shutterstock

HSBC is investing in its GBA operations as it opens up new opportunities for Hong Kong investors. Photo: SCMP/Xiaomei Chen

Digital mobile banking capabilities give investors easy access to cross-border financial products. Photo: Shutterstock

Business

Banking & Finance


Growing number of cross-border financial services will allow investors to diversify portfolios under the GBA Wealth Management Connect scheme
HSBC is smoothing the way for Hong Kong-based investors looking to gain access to the rapidly expanding GBA market



The growing number of cross-border financial services will allow investors to diversify portfolios under the GBA Wealth Management Connect scheme, and HSBC is helping Hong Kong-based investors access the market.


Morning Studio

Greater Bay Area opens door to new opportunities for Hong Kong investors

Growing number of cross-border financial services will allow investors to diversify portfolios under the GBA Wealth Management Connect scheme HSBC is smoothing the way for Hong Kong-based investors looking to gain access to the rapidly expanding GBA market

Growing number of cross-border financial services will allow investors to diversify portfolios under the GBA Wealth Management Connect scheme

HSBC is smoothing the way for Hong Kong-based investors looking to gain access to the rapidly expanding GBA market