Hong Kong SFC Names 14 Brokers in First Batch of Wealth Management Connect Pilot Scheme to Provide Cross-Border Investment Services for Investors in Guangdong-Hong Kong-Macao Greater Bay Area (GBA), 14 Brokers are China Galaxy International, China Industrial Securities International Brokerage, China International Capital Corporation (CICC), China Merchants, China PA Securities, China Securities, CITIC Securities, GF Securities, Guosen Securities, SDICS International, Shenwan Hongyuan & Zhongtai International
5th November 2024 | Hong Kong
The Hong Kong Securities & Futures Commission (SFC) has named 14 brokers in the first batch of Wealth Management Connect pilot scheme to provide cross-border investment services for investors in Guangdong-Hong Kong-Macao Greater Bay Area (GBA). The 14 brokers are China Galaxy International, China Industrial Securities International Brokerage, China International Capital Corporation (CICC), China Merchants, China PA Securities, China Securities, CITIC Securities, GF Securities, Guosen Securities, SDICS International, Shenwan Hongyuan & Zhongtai International. Hong Kong SFC (1/11/24): “The Securities and Futures Commission (SFC) today announced 14 licensed corporations (LCs) are eligible to participate in the Cross-boundary Wealth Management Connect Pilot Scheme (WMC) in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) (Note 1). The 14 LCs are China Galaxy International Securities (Hong Kong) Co., Limited, China Industrial Securities International Brokerage Limited, China International Capital Corporation Hong Kong Securities Limited, China Merchants Securities (HK) Co., Limited, China PA Securities (Hong Kong) Company Limited, China Securities (International) Brokerage Company Limited, CITIC Securities Brokerage (HK) Limited, GF Securities (Hong Kong) Brokerage Limited, Guosen Securities (HK) Brokerage Company, Limited, Guotai Junan Securities (Hong Kong) Limited, Huatai Financial Holdings (Hong Kong) Limited, SDICS International Securities (Hong Kong) Limited, Shenwan Hongyuan Securities (H.K.) Limited and Zhongtai International Securities Limited. These LCs represent the first batch of brokers to offer cross-boundary investment services for GBA investors. They will work in partnership with their Mainland partner brokers which have been confirmed by the relevant Mainland regulatory authorities (Notes 2 and 3). The SFC will closely monitor the operation of the WMC and continue to update the list of eligible LCs on the dedicated SFC webpage.”
“ Hong Kong SFC Names 14 Brokers in First Batch of Wealth Management Connect Pilot Scheme to Provide Cross-Border Investment Services for Investors in Guangdong-Hong Kong-Macao Greater Bay Area (GBA), 14 Brokers are China Galaxy International, China Industrial Securities International Brokerage, China International Capital Corporation (CICC), China Merchants, China PA Securities, China Securities, CITIC Securities, GF Securities, Guosen Securities, SDICS International, Shenwan Hongyuan & Zhongtai International “
Julia Leung, CEO of the SFC: “Today’s announcement marks another significant milestone for the brokerage industry and the WMC scheme in terms of enhancing the connectivity of financial markets in the GBA and fostering Hong Kong’s wealth management business. The SFC will continue to work with stakeholders to further enhance and expand the WMC scheme, as well as addressing the evolving cross-boundary needs of investors and the industry.”
Notes:
- For details on the eligibility criteria, please refer to the SFC’s circular on Participation in Cross-boundary Wealth Management Connect Pilot Scheme dated 24 January 2024.
- The People’s Bank of China, the National Financial Regulatory Administration, the China Securities Regulatory Commission, the Hong Kong Monetary Authority, and the Monetary Authority of Macao published the amendments to the implementation arrangement for the WMC scheme on 24 January 2024.
- The China Securities Regulatory Commission will announce the list of confirmed Mainland partner brokers separately.
Hong Kong SFC Names 14 Brokers in First Batch of Wealth Management Connect Pilot Scheme to Provide Cross-Border Investment Services for Investors in Guangdong-Hong Kong-Macao Greater Bay Area (GBA), 14 Brokers are China Galaxy International, China Industrial Securities International Brokerage, China International Capital Corporation (CICC), China Merchants, China PA Securities, China Securities, CITIC Securities, GF Securities, Guosen Securities, SDICS International, Shenwan Hongyuan & Zhongtai International
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