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 (“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.
Applicable Scope: All deposits and various types of investment product
Promotion Details: From now until June 30 (the “Promotion Period”), new Wealth Management Connect customers’ southbound Wealth Management Connect account eligible fund balance can enjoy a 2% RMB current deposit annual interest rate during the reward validity period, and a fund growth rebate calculated at a 4% annual interest rate. *
Note: The balance in the Southbound Wealth Management Connect account is calculated in RMB equivalent, and the maximum balance amount that can take the offer is 1 million RMB.
* Products other than RMB current deposits only enjoy a 4% interest rate cash rebate offer
Reference Example:
During the preferential period, the customer deposits 500,000 RMB in current deposits, 200,000 US dollars in fixed deposits, and 300,000 invested in funds or bonds:
Remarks: The above examples are for reference only. The related preferential requirements are subject to the latest announcement of our bank. The offer is subject to terms and conditions, for details, please refer to the “Terms and Conditions for the Wealth Booster Reward”. In case of any dispute, our bank reserves the right of final decision.
Remarks
$ Terms and Conditions specific to “Wealth Booster Reward”
^ Terms and Conditions specific to “FX Transaction Cash Rewards”
# Terms and Conditions specific to “Online Subscription Fee Rebate Terms and Condition"
@ Terms and Conditions specific to Time Deposit via Online Channels Promotion
* Applicable to charge type which is borne by remitter only. Fee waiver on (i) HK$100 Telex/SWIFT handling charge and (ii) Correspondent bank charge. About Bank service fees and charges.
Promotion terms and conditions apply. Promotion period of each offer might vary, for details, please refer to above promotion terms and conditions or contact our branch staff.
Risk Disclosure specific to Investment Funds
1. Investment Funds are not equivalent to time deposits or its substitute and provide no guarantee of return or yield on investment.
2. Investors should note that investment involves risk and past performance is not indicative of future performance. The price of the Investment Funds may go down as well as up and may become valueless. It is as likely that losses will be incurred rather than profits made as a result of investing in Investment Funds. In the worst case scenario, the value of the Investment Funds may be substantially less than your investment amount.
3. You should not invest in Investment Funds based on this promotion page alone. Investors should consider their own investment objectives, finanical resources and relevant circumstances,and read the relevant offering document, terms and conditions and risk disclosure statement before making any investment decision.
4. Investors should carefully read the relevant fund's offering documents (including the investment policy and risk factors stated therein) in details before making any investment decision. If needed, investors should seek independent professional advice.
Risk Disclosure Statements in relation to Bonds
1. Investment involves risk. The prices of bonds can fluctuate, sometimes dramatically. The price of bonds may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling bonds.
2. Investing in this product is not equivalent to time deposit. This product is not a protected deposit and is not protected by the Deposit Protection Scheme in Hong Kong.
3. Default/ Credit risk - There is a risk that the issuer may fail to pay you the interest or principal as scheduled. In the worst case scenario, you may not be able to receive back the interest and principal if the issuer defaults on the bond.
4. Interest rate risk - When the interest rate rises, the price of a fixed rate bond will normally drop.
5. Exchange rate risk - If your bond is denominated in a foreign currency, you may face an exchange rate risk if you choose to convert payments made on bond to your home currency.
6. Liquidity risk - If you need to sell the bonds before maturity for an urgent cash-flow need or use the capital for other investments, you may not be able to do this since the liquidity of the secondary bond market could be low. If you choose to sell your bond before it matures, you may lose part or all of your investment.
7. Reinvestment risk - If you hold a callable bond, when the interest rate goes down, the issuer may redeem the bond before maturity. If this happens and you have to re-invest the proceeds, you may not be able to enjoy the same rates of return.
8. Equity risk - If your bond is "convertible" or "exchangeable", you also face equity risk associated with the stock. A fall in the stock price will usually follow by a fall in the bond price.
Risk Disclosure Statements for Foreign Currency
Foreign currency investments are subject to exchange rate risk which may result in gain or loss. The fluctuation in the exchange rate of foreign currency may result in losses in the event that customer converts the foreign currency into HKD or other foreign currencies. Renminbi is not freely convertible at present. The actual conversion arrangement will depend on the restrictions prevailing at the relevant time.
This material does not itself constitute any offer of or invitation to any person to purchase or sell or acquire or invest in any investment products. You should not only base on this material alone to make investment decisions.
China CITIC Bank International Limited is an authorized institution under the Banking Ordinance and is regulated by the Hong Kong Monetary Authority.
This material has not been reviewed by the Securities and Futures Commission of Hong Kong or any regulatory authority in Hong Kong.
