Morgan Stanley Bankers Told to Carry Separate Phones for China Travel

Morgan Stanley has instructed its Hong Kong-based bankers to carry separate iPhones and iPads for business trips to mainland China as global financial institutions strengthen controls over cross-border data security.

The Morgan Stanley China travel policy was introduced in recent months and applies specifically to travel involving mainland China, according to reports citing a source familiar with the matter.

The Wall Street bank declined to comment publicly on the policy.

The move follows increased scrutiny by Beijing over cross-border data flows since 2021, prompting many international banks operating in Greater China to separate mainland systems from global platforms.

Morgan Stanley remains one of the leading arrangers of Chinese company listings in Hong Kong, requiring frequent travel by bankers for client meetings, due diligence and transaction work.

The development highlights growing operational adjustments by multinational financial institutions navigating regulatory, cybersecurity and data-management requirements across China’s financial sector.