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MNI BRIEF: GBA Cross-Border Wealth Management Connect Updated

MNI (Singapore)
(MNI)Beijing
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The updated version of Cross-Border Wealth Management Connect in the Greater Bay Area (GBA) came into effect today, aimed at attracting more domestic individual investors by integrating the region's financial markets, Guandong Province newspaper Nanfang Daily reported on Monday.

The new rules will increase the individual investor quota from CNY1 million to CNY3 million. Meanwhile, the scope of the pilot program will expand to securities companies. The Northbound Connect will also include yuan deposit products sold by mainland banks. The rules will make it convenient for residents to participate in the pilot program, the report noted.

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The updated version of Cross-Border Wealth Management Connect in the Greater Bay Area (GBA) came into effect today, aimed at attracting more domestic individual investors by integrating the region's financial markets, Guandong Province newspaper Nanfang Daily reported on Monday.

The new rules will increase the individual investor quota from CNY1 million to CNY3 million. Meanwhile, the scope of the pilot program will expand to securities companies. The Northbound Connect will also include yuan deposit products sold by mainland banks. The rules will make it convenient for residents to participate in the pilot program, the report noted.

Keep reading...Show less