This publication provides KPMG’s insights on the cross-boundary wealth management pilot scheme (Wealth Management Connect) in the Greater Bay Area (GBA) recently introduced by the People’s Bank of China, the Hong Kong Monetary Authority and the Monetary Authority of Macao.
Wealth Management Connect will help to promote investment diversification and facilitate the flow of capital in the GBA; and promote RMB internationalisation and strengthen Hong Kong’s status as an international financial centre and offshore RMB hub.
The launch of Wealth Management Connect is expected to provide investors with greater product diversity and asset allocation options, while also raising the bar for financial institutions in terms of product design, service quality and risk management.
