CICC Calls for Advisory Overhaul to Unlock Greater Bay Area Wealth Link

China International Capital Corp. Ltd. (CICC) is urging regulators to loosen restrictions on cross-border investment advisory services, arguing that strict marketing and advisory rules — rather than high wealth thresholds — are hampering participation in the cross-border wealth management connect program.

The appeal underscores the difficulty financial institutions face in capitalizing on the program, which was launched in September 2021 to allow residents of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) to invest across the border via a closed-loop system.