The Hong Kong Monetary Authority (HKMA), the People’s Bank of China (PBoC), and the Monetary Authority of Macao (AMCM) jointly announced today (29 June) the launch of a cross-boundary wealth management connect pilot scheme (Wealth Management Connect) in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and unveiled the framework of the scheme.
Hong Kong Investment Funds Association (“HKIFA”) warmly welcomes today’s announcement. The WMC Scheme has strategic importance as it can further reinforce HK’s position as a wealth management hub.
HKSFC authorized funds are well-regulated and offer a wide variety of choices – in terms of asset classes, markets, investment strategies and currencies. With the inclusion of authorized funds in the Scheme, GBA residents will be able to build a more diversified portfolio so as to better manage risks and to capitalize on global investment opportunities. We will continue to work closely with the authorities and distributors on the operational details so as to ensure smooth implementation.