PBoC opens up wealth management to Hong Kong and Macau

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The People’s Bank of China is allowing qualified retail investors on the mainland to buy offshore wealth management products for the first time, in a collaboration with central banks in Hong Kong and Macau.

The three regulators unveiled the rules of the two-way scheme, dubbed Wealth Management Connect, on September 10, according to a PBoC statement.

Residents in nine southern cities in Guangdong province, including Shenzhen and Guangzhou, will be able to buy offshore funds, bonds, and make

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