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Hong Kong seeks to expand wealth links with mainland China



Hong Kong’s central bank chief and top executives from UBS Group AG and HSBC Holdings Plc have advocated for expanding the Wealth Management Connect programme with mainland China, following its recent enhancement. At the Bloomberg Wealth Summit, HK Monetary Authority CEO Eddie Yue discussed potential expansions to cater to wealthier investors. The programme, allowing southern Chinese cities’ residents to invest in Hong Kong, recently saw its quota increased to CNY3m (USD414,000). However, Yue noted this limit is insufficient for private banking clients needing asset diversification. UBS’s Amy Lo highlighted the need for advisory services under the programme, while HSBC’s Annabel Spring welcomed the prospect of broader investment channels.

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