Caixin
Nov 23, 2021 08:09 PM
FINANCE

Greater Bay Area Wealth Connect Trial Sees Over $31 Million in Transactions

What’s new: China’s new cross-border wealth management connect (WMC) trial program in the Greater Bay Area (GBA) has reported transactions worth more than 200 million yuan ($31.3 million) since it was launched on Oct. 19.

The WMC allows Chinese mainland residents of the nine Guangdong cities in the GBA to invest in certain wealth management products sold by banks in Hong Kong and Macao via the “southbound link.” Likewise, residents from the two special administrative regions are able to invest in eligible products distributed by mainland banks in the area via the “northbound link.”

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