Recently, the Guangdong Branch of the People's Bank of China, the Shenzhen Branch of the People's Bank of China, and the Guangdong Regulatory Bureau of the State Financial Supervision Administration jointly issued the newly revised Implementation Rules for the Cross-boundary Wealth Management Connect Pilot Business in the Guangdong-Hong Kong-Macao Greater Bay Area.
The newly revised implementation rules are clear and optimize the access conditions for investors. Adjust the participation conditions for Mainland investors under the Southbound Scheme, and add an optional condition for Mainland investors to have an average annual income of not less than RMB400,000 in the past three years, so as to support more GBA residents to participate in the pilot. Appropriately increase the quota for individual investors, from RMB 1 million to RMB 3 million. Broaden the scope of the pilot business, increase the participation of ** companies in the pilot, and at the same time include the RMB deposit products of mainland selling banks in the scope of eligible products under the "Northbound Scheme", and expand the risk level of public **investment** from "R1 to R3" to "R1 to R4" (excluding commodities***).
*:People**.
Editor: Zhang Ying.