GBA investment program sees big jump in participants
More than 60,000 individual investors in the Guangdong-Hong Kong-Macao Greater Bay Area have joined the Cross-Boundary Wealth Management Connect Scheme since the operational details of the pilot program were issued on Sept 10, 2021.
The program is designed to provide more investment opportunities to residents of the GBA.
About 6.7 billion yuan ($919.72 million) in cross-border capital transfers had been made in the program as of Sept 10 this year, according to the Guangdong branch of People's Bank of China, the central bank.
This year had seen an increase of 19,000 such investors, up 40.1 percent year-on-year and cross-border capital transfer of 4.48 billion yuan, up 410 percent as of Sept 10.
The branch will conduct research on the expansion of the program in terms of the investor access threshold, individual investment quota, qualified participant institutions and investable products.
