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Hong Kong, Macau
A number of regulators have inked a pact to foster cross-border wealth management activity in the Guangdong-Hong Kong-Macao Greater Bay Area.

The organisations involved are The Hong Kong Monetary Authority and the People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange, Securities and Futures Commission of Hong Kong and Monetary Authority of Macao. 

These bodies agreed principles of supervisory cooperation under the cross-boundary “Wealth Management Connect”, signing a memorandum of understanding to start a pilot scheme.

“HKMA will continue to work with the relevant authorities to step up preparations for the cross-boundary Wealth Management Connect and keep the industry engaged, with a view to launching the scheme early,” Hong Kong’s regulator and de-facto central bank said.