HK govt official expects launch of cross-border wealth management connect soon


Xinhua News

11th June 2021 – (Hong Kong)  The wealth management connect in the Guangdong-Hong Kong-Macao Greater Bay Area will be launched in the near term, an official of the Hong Kong Special Administrative Region (HKSAR) government said here on Friday.

Financial Secretary Paul Chan made the remarks when delivering a speech at a forum here and said the program, which allows investors in the Greater Bay Area to make cross-border investments in wealth management products, will create enormous opportunities for the financial sector.

The southbound trading of Bond Connect is also ready and will open soon, he said.

Chan stressed Hong Kong’s financial advantage in linking the mainland markets with the rest of the world.

Hong Kong is the most favored global financing platform for mainland companies, serves as an offshore renminbi business hub, and bridges the mainland and global markets with multiple programs including stock and bond connect.

Chan also unveiled that Hong Kong will issue HK$175.5 billion (US$22.62 billion) of green bonds in the next five years.