China, Hong Kong and Macao Sign MOU on Wealth Management Connect

The Hong Kong Monetary Authority announced on 5 February the signing of the Memorandum of Understanding (MOU) on the Launch of the Cross-Boundary Wealth Management Connect Pilot Scheme in the Guangdong-Hong Kong-Macao Greater Bay Area to ensure effective operation and controllable risk factors in undertaking Wealth Management Connect trials in the Greater Bay Area. The MOU was signed by the People’s Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, the Hong Kong Monetary Authority, the Securities and Futures Commission of Hong Kong, and the Monetary Authority of Macao. By signing the MOU, authorities in the three places aim to establish sound supervisory co-operation arrangements and liaison mechanism.

Source: Hong Kong Monetary Authority