The British-based bank pointed to system improvements and more products as enhancements in the cross-boundary wealth management pilot scheme take effect.
Several improvements planned related to the wealth management connect scheme between Guangdong, Hong Kong, and Macau entered force on Monday, and HSBC indicated in an announcement that it had prepared by upgrading systems and increasing its product selection.
As part of that, it indicated that existing and new clients in the so-called Greater Bay Area would be able to invest up to 3 million renminbi in the scheme, triple the previous amount.
Portfolio Analytics
The number of products now on offer with its mainland partner is more than 400, including 100 mutual funds related to investments in Asia or other international markets, helping southbound investors diversify their assets.
It also said that it had expanded its dedicated team of financial advisors that could use a portfolio analysis tool for southbound investors to optimize their investments and manage risks.
Resident Survey
The overall effort by the bank included a survey of GBA residents, with two-thirds indicating that the increased attractiveness would be enough impetus for them to start investing in the scheme or increasing their current level of investment.
«At HSBC, we have enriched our product offering, expanded our team of financial advisors, and introduced a professional digital wealth management platform to provide advisory service for investors,» HSBC head of the Greater Bay Area Daniel Chan indicated in the announcement.
