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Wealth Management Connect —
Opportunities in action at CNCBI


China CITIC Bank International (CNCBI), working in synergy with parent China CITIC Bank, is among the first local banks to launch Wealth Management Connect services, providing clients with speedy convenient cross-boundary wealth management services to help them seize the wealth of opportunities in the Greater Bay Area.

Go to “Wealth Management Connect” in the China CITIC Bank Mobile App and CNCBI’s mobile app inMotion to experience one-stop online-offline cross-boundary wealth management services!

 

Wealth Management Connect

Wealth Management Connect (“WMC”) refers to the arrangement under which eligible residents in the Mainland cities in the GBA and Hong Kong carry out cross-boundary investment in wealth management products distributed by banks in each other's market via designated channels. Wealth Management Connect consists of the Southbound Scheme and the Northbound Scheme, depending on the residency of the investors.

Southbound Scheme refers to eligible Mainland investors carrying out investment in wealth management products distributed by banks in Hong Kong. An eligible Mainland investor should open a dedicated investment account with an eligible Hong Kong bank and a dedicated remittance account with an eligible Mainland bank. The dedicated investment account should be bound to the dedicated remittance account, forming a "one-to-one” matching. Subsequently the dedicated investment account can only be used to transfer funds to or receive funds from the dedicated remittance account, and receive investment returns arising from the Southbound Scheme. Funds in the dedicated investment account can only be used to purchase eligible wealth management products or be remitted back to the dedicated remittance account.

Northbound Scheme refers to the eligible Hong Kong investors carrying out investment in wealth management products distributed by banks in Mainland. An eligible Hong Kong investor should open a dedicated remittance account with an eligible Hong Kong bank, and open/designate a dedicated investment account with an eligible Mainland bank. The dedicated remittance account should be bound to the dedicated investment account, forming a “one-to-one” matching. Subsequently, funds remitted from the dedicated remittance account to the Mainland will only be credited to the dedicated investment account, and funds remitted from the Mainland can only be from the dedicated investment account. The dedicated remittance account can only be used for remittance purposes under the Northbound Scheme, and should not be used for the provision of any other services of the Hong Kong bank.

CNCBI cooperates with its Mainland partner bank China CITIC Bank to provide the Southbound and Northbound Scheme services.

 

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