The Greater Bay Area "Wealth Management Connect Scheme" is coming. The limit for a single investor is RMB 1 million. The initial stage of financial products is low risk.

The "Wealth Management Connect Scheme" was officially launched. In the afternoon of September 10, Guangdong, Hong Kong and Macao simultaneously released the Guangdong, Hong Kong and Macao "Wealth Management Connect Scheme" business pilot implementation rules. The "Wealth Management Connect Scheme" business supports cross-border investment of qualified investment products sold by banks in the Greater Bay Area by individuals from Hong Kong and Macau, and can be divided into "southbound" and "northbound" according to the identity of investment entities.

The "Southbound" refers to residents of Guangdong, Hong Kong and Macao in the Greater Bay Area opening investment accounts with banks in Hong Kong and Macao and purchasing qualified investment products sold by banks in Hong Kong and Macao; the "Northbound" refers to residents of Hong Kong and Macao opening investment accounts with banks in Guangdong, Hong Kong and Macao in the Greater Bay Area and purchasing qualified investment products sold by banks in the Mainland.

The implementation rules specify that mainland investors carrying out “Southbound" business must meet the following conditions: have full civil capacity; have a household registration in 9 cities within the Guangdong-Hong Kong-Macao Greater Bay Area or have paid social security or personal income tax continuously for 5 years in 9 cities within the Guangdong-Hong Kong-Macao Greater Bay Area; have more than 2 years of investment experience and meet the requirements of the last 3 months The month-end balance of household net financial assets is not less than RMB 1 million, or the month-end balance of household financial asset for the last 3 months is not less than RMB 2 million.

The implementation details of the “Wealth Management Connect Scheme” specify that the upper limit of the net inflow of cross-border funds for the “Northbound” and the upper limit of the net outflow of cross-border funds for the “Southbound” shall not exceed The total amount of the pilot “Wealth Management Connect Scheme" business is currently set at RMB 150 billion. At the same time, the "Wealth Management Connect Scheme" business pilot is subject to quota management for individual investors, with the investment limit being RMB 1 million.