Market surveys show there are more than 450,000 high-net-worth families with more than RMB 6 million in investable assets across Guangdong, Hong Kong and Macau. Their aggregate estimated investable assets are at least RMB 2.7 trillion, making #GreaterBayArea (GBA) the world's wealthiest region.
Since 2014, there has been significant integration of the Hong Kong and Mainland Chinese financial markets, especially with the launch and growth of the Stock Connect and Bond Connect. By the end of June 2020, regulators announced the #WealthManagementConnect Scheme (WMC) which will further harmonise the two markets. This new scheme is expected to create a new channel for Chinese and Hong Kong-registered financial institutions seeking capital growth through the expansions of cross-border trading and broader capital markets.
Approaching as the launch of WMC in GBA, Mainland Chinese regulators recently published the consultation papers, industry players are expected to get ready by meeting specific eligibility criteria on products, platforms and processes (3’P’).
Hosted by The Wealth Mosaic’s Senior Advisor & Lead Business Development APAC, Mario A Bassi, and featuring Marina Mai, Senior Consultant, Regulatory Compliance & Risk – Greater Bay Area Subject Matter Expert, Synpulse, Andreas Mettenberger, Director, Head of Business Innovation & Growth, Synpulse and Thomas Tse, Director, Client Solution Greater China, InvestCloud, in this webinar they break down the key regulatory requirements and provides insights on how
- To identify a pragmatic approach to Wealth Management Connect, ie understanding the draft rules from Regulators;
- To navigate between tightening regulations and trend of digitalization, ie what this means for financial institutions in Hong Kong and Mainland China;
- To seize the WMC Opportunities, ie tackling new challenges through the use of Digital Wealth and Regulatory Technologies.
