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First truly remote account opening service in 15 mins.

Successfully register inMotion to enjoy fabulous offers below:

Up to 3.8% p.a. preferential interest rate for 3 months HKD time deposit offer*
Up to HK$100 Cash Reward^
$0 brokerage commission for securities purchases#
0.125% brokerage commission for securities trading
0.88% subscription fee offer for investment funds
Up to 30 pips discount for foreign exchange

Important Notes:
Investment funds are investment products and some may involve derivatives. The investment decision is yours but you should not invest unless the intermediary who sells it to you has explained to you that the product is suitable for you having regard to your financial situation, investment experience and investment objectives.

Investment involves risks. Relevant Terms and conditions apply to the above offers. 15mins account opening is only applicable to inMotion Services application completed within specific service hours.

*Only applicable to customer who currently does not maintain any account or service and/or has not opened, maintained or closed any account or service with China CITIC Bank International Limited (the "Bank") in the 13 months immediately preceding the date of relevant inMotion Services registration.

^Up to HK$100 Cash Reward includes “HKD50 Cash Reward” and “HKD50 Cash Reward for inMotion Customers using our Securities Trading Services”. “HKD50 Cash Reward” is only applicable to customer who currently does not maintain any account or service and/or has not opened, maintained or closed any account or service the Bank in the 13 months immediately preceding the date of relevant inMotion Services registration; “HKD50 Cash Reward for inMotion Customers using our Securities Trading Services” is only applicable to customer who has not maintained any Securities Cash Account Or One Account (whether in sole name or joint account) with the Bank within the preceding 12 months from 19 September 2018 and opened a New One Account from 1 October 2018 to 31 October 2018 and performs at least one buy or sell transaction by New One Account via inMotion, i-banking, CITICmobile or Automated Securities Trading Hotline within the first 30 days started from One Account opening date.

#Only applicable to customer who has not maintained any Securities Cash Account Or One Account (whether in sole name or joint account) with the Bank within the preceding 12 months from 19 September 2018 and opened a New One Account during the Offer Period

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What is inMotion?

With inMotion, you don’t have to go to branches anymore! This personal wealth management and investment mobile app allows you to enjoy services like account opening and currency trading anytime, anywhere! inMotion offers a wide range of exclusive, fantastic offers and experiences.

Check out our Promotions page for detail.

The new way of account opening

3 simple account opening steps

Remote bank account opening open in 15 mins with your smartphone

  • Prepare
    Email address, mobile phone number and Hong Kong ID card
  • Scan
    Hong Kong ID card and Selfie
  • Complete
    Fill in your personal information

Design for investor

Enhance your new investment experience

  • Remote investment account opening
  • Secure your transaction with two-factor authentication
  • Trade securities of Hong Kong market
  • Manage your investment funds with clear navigation and simpler interface
  • Reply e-Corporate action

Fast and Secured

inMotion is built with fast and secured technology:

Hong Kong identity card authenticity
Facial recognition, inspection and identity verification
Two-factor Authentication for secure transaction
Biometric authentication for login, supporting Fingerprint and Face ID

New banking experience

Features and services

  • Remote deposit and (New) investment account opening
  • Transfer in/out
  • View balance
  • Currency exchange
  • Time deposit
  • Securities trading - New
  • Investment funds - New
  • Reply corporate action - New
  • Remote reset password
  • Biometric authentication

Stay tuned for more features and functions.

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Promotions

Important Notes:
Investment funds are investment products and some may involve derivatives. The investment decision is yours but you should not invest unless the intermediary who sells it to you has explained to you that the product is suitable for you having regard to your financial situation, investment experience and investment objectives.

Successfully register inMotion to enjoy fabulous offers below:

Up to 3.8% p.a. preferential interest rate for 3 months HKD time deposit offer*
Up to HK$100 Cash Reward^
$0 brokerage commission for securities purchases#
0.125% brokerage commission for securities trading
0.88% subscription fee offer for investment funds
Up to 30 pips discount for foreign exchange

Investment involves risks. Relevant Terms and conditions apply to the above offers.

*Only applicable to customer who currently does not maintain any account or service and/or has not opened, maintained or closed any account or service with China CITIC Bank International Limited (the "Bank") in the 13 months immediately preceding the date of relevant inMotion Services registration.

^Up to HK$100 Cash Reward includes “HKD50 Cash Reward” and “HKD50 Cash Reward for inMotion Customers using our Securities Trading Services”. “HKD50 Cash Reward” is only applicable to customer who currently does not maintain any account or service and/or has not opened, maintained or closed any account or service the Bank in the 13 months immediately preceding the date of relevant inMotion Services registration; “HKD50 Cash Reward for inMotion Customers using our Securities Trading Services” is only applicable to customer who has not maintained any Securities Cash Account Or One Account (whether in sole name or joint account) with the Bank within the preceding 12 months from 19 September 2018 and opened a New One Account from 1 October 2018 to 31 October 2018 and performs at least one buy or sell transaction by New One Account via inMotion, i-banking, CITICmobile or Automated Securities Trading Hotline within the first 30 days started from One Account opening date.

#Only applicable to customer who has not maintained any Securities Cash Account Or One Account (whether in sole name or joint account) with the Bank within the preceding 12 months from 19 September 2018 and opened a New One Account during the Offer Period.


Terms and Conditions of inMotion Promotion Offers

General Terms and Conditions
  1. Unless otherwise indicated, the promotion period is from 1 October 2018 to 31 October 2018 (both dates inclusive, hereinafter called the “Promotion Period”).
  2. Unless otherwise indicated, these promotion offers only apply to New Customer (as defined Clause 3 below) who has successfully registered the mobile application inMotion Services (“inMotion”) during the Promotion Period.
  3. “New Customer” means the customer who currently does not maintain any account or service and/or has not opened, maintained or closed any account or service with China CITIC Bank International Limited (the “Bank”) in the 13 months immediately preceding the customer’s inMotion Services registration date.
  4. These promotion offers cannot be used in conjunction with any other promotion offers of the Bank.
  5. The Bank reserves the right to delete, replace, supplement or amend any of these Terms and Conditions without prior notice, and shall not be responsible for any costs, expenses, losses or liabilities incurred.
  6. Except as otherwise expressly stated in these Terms and Conditions, no one other than a party to these Terms and Conditions may enforce any of their terms under the Contracts (Rights of Third Parties) Ordinance, Cap. 623 of the Laws of Hong Kong. Where any clause of these Terms and Conditions entitles any third party to enforce any term of these Terms and Conditions under the Contracts (Rights of Third Parties) Ordinance, the parties reserve the right to vary that term or any other term of these Terms and Conditions without the consent of that third party.
  7. These Terms and Conditions shall be governed by and construed in accordance with the laws of Hong Kong Special Administrative Region and any dispute arising out or in connection therewith shall be referred to the courts of Hong Kong SAR.
  8. In the event of any matter or dispute arising out of or in connection with this Promotion, the decision of the Bank shall be final and conclusive.
  9. In the event of any inconsistency between the English and Chinese versions of these Terms and Conditions, the English version shall prevail.
A. Terms and Conditions specific to “3 months HKD Time Deposit Offer with up to 3.8% p.a. preferential interest rate”(the “Time Deposit Offer”)
  1. The Time Deposit Offer is only applicable to New Customer (as defined in the General Terms and Conditions above) who has successfully set up 3-month HKD time deposit with minimum deposit amount of HKD10,000 and maximum deposit amount of HKD100,000 at the first time through inMotion.
  2. The Time Deposit Offer is limited and on first-come-first-served basis during the Promotion Period. Each New Customer can only enjoy the Time Deposit Offer once during the Promotion Period.
  3. The Bank reserves the right to amend or revise the interest rate. The interest rate will be confirmed by the Bank at the time the time deposit is placed.
  4. The Time Deposit Offer cannot be used in conjunction with any other deposit promotion offers.
B. Terms and Conditions specific to “HKD50 Cash Reward” (the “Cash Reward Offer”)
  1. The Cash Reward Offer is only applicable to New Customer (as defined in the General Terms and Conditions above) who has fulfilled ALL the following requirements in inMotion within Promotion Period (“Eligible Customer”) will be entitled to HKD50 cash reward (“Cash Reward”):
    1. Successfully submits an inMotion Deposit Account application (“inMotion Application”);
    2. Successfully opens a Multi-currencies Statement Savings Account (“MCSSA”) after inMotion Application;
    3. Successfully registers i-banking service;
    4. Transfers at least a single transaction of HKD10,000/USD1,500/ RMB10,000 or above to the MCSSA
  2. Each Eligible Customer is entitled to the Cash Reward once only during the Promotion Period.
  3. The Cash Reward will be credited to the relevant MCSSA on or before 28 February 2019 without prior notice; and the Cash Reward is not transferable.
  4. To be eligible for this Cash Reward Offer, Eligible Customer must hold a valid i-banking account AND MCSSA by the time when the Cash Reward is credited. Otherwise, the Cash Reward shall be forfeited absolutely and shall not be paid to the Eligible Customer through any other means.
C. Terms and Conditions specific to “$0 Brokerage Commission for Securities Purchases”:
  1. The promotion period for the $0 Brokerage Commission for Securities Purchases is from 1 October 2018 to 31 December 2018, both dates inclusive (the “Offer Period”).
  2. The $0 Brokerage Commission for Securities Purchases Offer is only applicable to customers who have (i) not maintained any Securities Cash Account or One Account(whether in sole name or joint account) with the Bank within the preceding 12 months from 19 September 2018 and (ii) opened a New One Account during the Offer Period (the "New One Account Customers").
  3. New One Account Customers can enjoy $0 brokerage commission for securities purchases of Hong Kong Stocks, U.S. Stocks and China A-shares executed through the New One Account via Designated Channels (as defined below) (the "Eligible BUY Transactions") within the account opening month and following first 6 months from the account opening date of the New One Account. In addition, starting from the 7th month of account opening, the $0 brokerage commission for securities purchases will be continued if customer performs at least one buy or sell securities transaction (exclude IPO subscription) in each calendar month thereafter. If there is no buy or sell securities transaction in a calendar month starting from 7th month, the $0 brokerage commission for securities purchases offer will be terminated.
  4. Designated Channels: inMotion, i-banking, CITICmobile or Automated Securities Trading Hotline.
  5. New One Account Customers are required to pay all applicable commissions and fees upfront. The relevant brokerage commission reduction amount entitled in respect of the Eligible BUY Transactions (the "Reduction Amount") will be credited to the customers’ current or savings account according to the schedule as follow:
    Transaction monthReduction Amount credit month
    January to MarchMay
    April to JuneAugust
    July to SeptemberNovember
    October to DecemberFebruary
  6. The $0 Brokerage Commission for Securities Purchases Offer is not applicable to Private Banking customers, corporate customers and customers who are the employee of the Bank during the Promotion Period and at the time of crediting the Reduction Amount.
  7. For joint account customers, only the primary account holder is entitled to this offer.
  8. Customers must maintain the relevant One Account and current or savings account with the Bank at the time when the Reduction Amount are credited.
  9. The Reduction Amount is only applicable to the Bank’s brokerage commission. Other taxes, impositions, levies, fees and charges payable for the transaction, including but not limited to the transaction fees imposed by third parties such as stamp duty, SFC Transaction Levy and the Exchange Trading Fee are not covered.
D. Terms and Conditions specific to “0.125% Brokerage Commission for Securities Trading” (the “Brokerage Commission Offer for Securities Trading”)
  1. The promotion period for the Brokerage Commission Offer for Securities Trading is from 1 October 2018 to 31 December 2018, both dates inclusive (the “Offer Period”).
  2. The Brokerage Commission Offer for Securities Trading is only applicable to securities customers who have successfully registered inMotion during the Offer Period (the “Eligible inMotion Customer”).
  3. Eligible inMotion Customer who trades Hong Kong Stocks, China A-shares or U.S. Stocks via our automated channels (Including: inMotion, i-banking, CITICmobile or Automated Securities Trading Hotline) from the date of successfully registered with inMotion to the end date of the Offer Period can enjoy commission rate of 0.125% (Minimum Charges: HKD100/CNY85/USD15).
  4. If an Eligible inMotion Customer is entitled to more than one concurrently running promotional offer for Securities Trading, the Bank will award the one deemed to be of the highest value to the customer at its discretion.
  5. For other fees details of Securities Service, please visit the Bank’s website www.cncbinternational.com or any of our branches for our “Investment Products Service Fees and Charges”.
E. Terms and Conditions specific to “HKD50 Cash Reward for inMotion Customers using our Securities Trading Services” (the “Cash Reward Offer – Securities Services”)
  1. The customers’ eligibility on the Cash Reward Offer – Securities Services will be based on transaction records of the Bank.
  2. The Cash Reward Offer – Securities Services is only applicable to inMotion registered customers who have (i) not maintained any Securities Cash Account or One Account (whether in sole name or joint account) with the Bank within the preceding 12 months from 19 September 2018 and (ii) opened a New One Account during the Promotion Period and (iii) performed at least one securities buy or sell transaction by New One Account via Designated Channels (as defined below) within the first 30 days started from New One Account opening date (the "Eligible Securities Customer").
  3. Designated Channels: inMotion, i-banking, CITICmobile or Automated Securities Trading Hotline.
  4. Each Eligible Securities Customer is entitled to HKD50 cash reward once during the Promotion Period.
  5. The HKD50 cash reward will be credited to Eligible Securities Customer’s current or savings account (HKD) on or before 30 November 2018 without prior notice.
  6. The Cash Reward Offer – Securities Services is not applicable to Private Banking customers, corporate customers and customers who are the employee of the Bank during the Promotion Period and at the time of crediting the HKD50 cash reward.
  7. For joint account customers, only the primary account holder is entitled to this offer.
  8. Customers must maintain the relevant New One Account and a current or savings account (HKD) with the Bank at the time when the HKD50 cash reward is credited.
F. Terms and Conditions specific to 0.88% Subscription Fee Offer for Investment Funds (the “Subscription Fee Offer for Investment Funds”)
  1. The promotion period for Subscription Fee Offer for Investment Funds is from 1 October 2018 to 31 December 2018, both dates inclusive (the “Offer Period”).
  2. The Subscription Fee Offer for Investment Funds is only applicable to subscription of investment funds (excluding money market funds) with minimum subscription amount of HKD20,000 (or its equivalent in other currencies) via inMotion during the Offer Period.
G. Terms and Conditions specific to “30 pips discount for foreign exchange” Offer (the “Preferential FX Rate Offer”)
  1. The Preferential FX Rate Offer is only applicable to the telegraphic transfer (“TT”) rate foreign exchange transactions made via Multi-currencies Statement Savings Accounts through inMotion during the Promotion Period.
  2. The Preferential FX Rate Offer is only applicable to the foreign currencies designated by the Bank. The Bank has the right to change the designated foreign currencies and/or the applicable pip discount without prior notice.
  3. The pip discount entitled by the customers will be determined at the time of transaction.
  4. The Preferential FX Rate Offer cannot be used in conjunction with other foreign exchange offers (except otherwise specified).
Risk Disclosure Statements for Foreign Exchange

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.

Risk Disclosure Statements for Securities

Investment involves risks. The price of securities fluctuates, sometimes dramatically. The price of securities may move down or up and may become valueless. It is as likely that losses will be incurred rather than profits made as a result of buying or selling securities. Investors should seek advice from own professional advisors as to particular tax position, including but not limited to estate duty and withholding tax that might arise from investing in overseas products. If investors investing in investment products denominated in non-local currency, one should be aware of the risk of exchange rate fluctuations that may cause a loss of principal. Before making any investment decision, investors should refer to the terms and conditions of relevant Securities Trading Services and risk disclosure statements and seek professional advice where needed. Renminbi (RMB) is subject to exchange rate risk. The Hong Kong dollar value of investment will decrease if the RMB depreciates against Hong Kong dollar. Conversion between RMB and other currencies (including Hong Kong dollar) is subject to policy restrictions relating to Renminbi and consequently the relevant regulatory requirements in Hong Kong. Such requirements may be amended subject to changes in the policy restrictions relating to RMB. RMB is not freely convertible at present. The actual conversion arrangement will depend on the restrictions prevailing at the relevant time.

Risk Disclosure Statements for 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) Investors should consider their own investment objectives, financial 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.

This promotion page does not itself constitute any offer of, or invitation by or on behalf of the Bank to any person to purchase or sell or acquire or invest in any investment products. You should not only base on this promotion page alone to make investment decisions.

This promotion page is issued by China CITIC Bank International Limited. Its contents have not been reviewed by the Securities and Futures Commission of Hong Kong or any regulatory authority in Hong Kong.


Previous Terms and Conditions of inMotion Promotion Offers

From 1 March 2018 to 9 June 2018 >
From 10 June 2018 to 28 June 2018 >
From 3 July 2018 to 31 August 2018 >
From 1 September 2018 to 30 September 2018 >

Frequency asked questions

These are a list of questions and answers relating to a particular subject, especially one giving basic information for you.

General enquiries

inMotion is a personal wealth management and investment mobile app that lets you open a new account, set up time deposit, manage currency trading, securities trading and investment funds anytime and anywhere without going to the bank in person.

If you are a new customer opening an account on inMotion, you can simply log-in to your local bank’s online banking service or visit a local branch to transfer money via “Clearing House Automated Transfer System (CHATS)” or “Express Transfer”.

You can use the services from your local bank including but not limited to the following:

  • BANK OF CHINA (HONG KONG) LIMITED > Local Bank Transfer  > Express Transfer
  • BANK OF EAST ASIA, LIMITED  > Transfers Other Banks (Hong Kong) > Express- CHATS
  • CHINA CONSTRUCTION BANK (ASIA) CORPORATION LIMITED > Transfer to Local Bank Account > Express Transfer
  • CITIBANK (HONG KONG) LIMITED > Payments & Transfers > HKD Local Inter-bank Fund Transfer - Same Day
  • DAH SING BANK LIMITED > Fund Transfer to Other Bank > Transfer Express  
  • HANG SENG BANK, LIMITED > Transfers Other Local Bank Accounts > Express Transfer
  • HONGKONG & SHANGHAI BANKING CORPORATION LIMITED > Pay or transfer > Express Transfer
  • STANDARD CHARTERED BANK (HONG KONG) LIMITED > CHATS (Branch ONLY)

 

You can also deposit cheque into the Multi-currencies Statement Savings Account on inMotion over the counter or deposit into cheque drop-in box at our branches. Please be reminded that:

1. The cheque must be issued to the bank account holder under the same name in Hong Kong;

2. Avoid cheques issued under a third party’s name, joint name, or without issuer’s name;

3. After the cheque deposit has been made, the related bank account will not be registered as the designated account for funds transfer in and out.

For subsequent funds withdrawal, you need to transfer funds to the designated inMotion transfer in and out account via Clearing House Automated Transfer System (CHATS) in order to transfer funds out to another designated local bank account.

Find branch location >

If you are a new customer opening an account on inMotion, please visit one of our branches.

Existing CNCBI customers can enjoy such services on i-banking or at our branches.

If you have decided to close your account, please ensure:

  1. All transactions in your One Account “Investment” have been settled and there are no investment holdings.
  2. You have withdrawn the deposit from your account.

Then, please visit one of our branches to close your account and bring along your identity card.

Of course! inMotion is operated by China CITIC Bank International which is a licensed bank in Hong Kong China CITIC Bank International Limited is a member of the Deposit Protection Scheme in Hong Kong. Eligible deposits taken by this Bank are protected by the Scheme up to a limit of HK$500,000 per depositor.

You can be assured that it is safe. We are committed to protecting and respecting your privacy under the Hong Kong’s Personal Data (Privacy) Ordinance. If you want to find out more, please refer to:

Tap the below link(s) to find out more:

You can activate the biometric authentication login on your mobile device by following the instructions on the screen.

inMotion currently supports Touch ID or Face ID login for iOS devices, and fingerprint login for Android devices.

In order to safeguard your personal data, you can only use one mobile device to register and use biometric authentication login for inMotion.

If you have successfully registered for biometric authentication login via another mobile device, previous biometric authentications will be deactivated.

Security questions and answers will be used in case when you forgot your login password. You will need to answer a security question to go through the reset password process.

If you have set up Security Questions, you can reset your password on inMotion. If no security questions have been set up, please call our Customer Service Representatives on inMotion or visit any of our branches.

You can reach our Customer Service Representatives by phone or simply visit one of our branches and we’ll take care of it.

Your Login ID will be locked after 4 consecutive incorrect entries. Please visit any of our branches to reset your password.

If you input an incorrect password for 4 consecutive times, your account will be locked for security reasons. Please visit any of our branches to reset your password.

You can go to “Other Services” and select “Investor Risk Analysis” to view your latest risk profile. If you wish to update your risk profile, please complete the questionnaire again.

Go to “Settings” > “Notification preferences” to update your desired language preference.

To safeguard your account, please pay attention to the following security tips:

  • Account of successful inward remittance to inMotion account will be registered as your transfer out “To account” for remittance by default.
  • Please log in to inMotion and check the transfer out “To account” record(s) through the Transfer out function.
  • If you have found any suspicious transfer in / transfer out account or transaction records, please contact our customer hotline at (852) 2287 6889, or email us at ibanking@cncbinternational.com immediately.

For other online security details, please visit inMotion service “Online Security and Privacy” section under “Notice to customers”.

You should email us immediately at ibanking@cncbinternational.com  or call (852) 2287 6889 (select language). We will follow up and take the appropriate actions.

Open account

You can open a Multi-currencies Statement Savings Account which allows you to trade currencies at a preferential rate anytime, anywhere! The currencies available include HKD, CNY, USD, AUD, CAD, EUR, GBP, NZD, CHF, SGD, JPY and NOK.

There is no fee for opening an account but charges are applicable to specific banking services.

Tap the below link(s) to find out more:

If you are a new customer and meet the application criteria, it takes around 15 minutes. If you are an existing customer, it takes only 5 minutes to complete the application.

There are no time or boundary restrictions on inMotion. Simply input the relevant information to open your Multi-currencies Statement Savings Account on inMotion via your mobile anytime and anywhere. It takes 15 minutes to complete the application process if you meet the application criteria. If you are an existing customer, it will take only 5 minutes.

A One-time Password will be sent to you via SMS or email to verify your identity for account login.

Yes, if you are an existing customer. Please ensure that this mobile number is registered on your online bank account.

Please input the One-time Password within 100 seconds after dispatch. If the password has expired, you can request for another one and we will resend to you.

The One-time Password will only be sent to your registered mobile number. Even if you have registered for SMS forwarding, the SMS will not be sent to another mobile phone number.

Tap “Resend” for another One-time Password.

If you are an existing customer, please visit any of our branches to change or register your mobile number. If you are a new customer, you can register your mobile number during the application process. If you need to change your mobile number after the application, please visit any of our branches.

To register for inMotion, existing customers need to have:

1) Registered with i-banking;

2) Registered the mobile number with i-banking to receive one-time password; and

3) Registered the email address with i-banking.

For existing customers who have One Account, in addition to the above required items (1) to (3), they also need to have active account of only single One Account “Deposit”.

 

*Tips:

  • You may view your mobile number and email by logging on to i-banking
  • If you haven’t registered your email address with i-banking, simply log on to i-banking and set it up by using a security device or CNCBI Token
  • If you haven’t registered your mobile number with i-banking, please visit one of our branches

 

Please visit any of our branches to apply for i-banking service. Upon completion,

1. You will receive a confidential letter with a reference number and password;

2. On the next business day, you can use the reference number and password to complete the i-banking registration on our website.

If you are our phone banking or credit card customer:

Visit our website and use your phone banking account number and password, or credit card number and ATM password to register for i-banking service.

Please ensure that:

  • You are over 18 years old;
  • You have a Hong Kong permanent identity card.

 

Tips:

1. Place your card on a flat, clean surface and avoid glares on the ID card;

2. Position your card within the bracket. Scanning will start once the green light appears.

During the photo taking, you need to:

  • Look straight into the camera;
  • Eyes are at the same level as the camera;
  • Find a plain and clean background.

Once we have received your application, it would take around 10 minutes to process. If you have not received any confirmation email, please check in your “Spam Email Folder”.

Simply tap “Save” on the bottom right corner and you can resume your application later.

You can:

1. Tap “Resume Application” on the front page;

2. Enter your registered email address and mobile number for verification to check your current status.

You can:

1. Tap “Resume Application” on the front page:

2. Enter your registered email address and mobile number for verification to resume your application.

Address verification is required for opening your One Account. A one-time activation code embedded in an address verification letter will be mailed to you by China CITIC Bank International. Please enter the code through inMotion to complete your address verification.

The verification letter will be mailed to your residential address within 5-7 business days after clicked “Request address verification letter” button. 

If you haven’t received the address verification letter after 7 calendar days, please tap “Resend verification letter”.

The One-time Activation Code will expire 30 calendar days after the issue date. If your one-time activation code has expired, please click the “Resend” button on the address verification page to request for a new verification letter.

If you enter the One-time Activation Code incorrectly for three consecutive times, you will not be able to complete the verification. Please go back to the “Verify Address” page to re-start address verification.

Please bring along your identity card and address proof of residential and visit our branch for assistant.

 To open the accounts in inMotion, you should:

  • Aged 18 or above;
  • Be a non-US person (including a citizen or resident of the United States) and non-Canadian resident;
  • Have Multi-currencies Statement Savings Account with HKD
  • Have no One Account previously

Your One Account will be ready in 10 minutes and 2-3 business days respectively once you’ve submitted your application successfully. You can check your new account number in "View balance" > "Investment" anytime.

Of course you can! To activate U.S. securities trading service, simply download the W-8BEN form required by the U.S. Internal Revenue Service, then submit the completed form via inMotion.

  1. Download, print, complete and sign the W-8BEN form required by the U.S. Treasury Internal Revenue Service Department from “Other services” > "Download/Upload W-8BEN form".
  2. Take a photo of the W-8BEN form.
  3. Upload the photo via “Download/Upload W-8BEN form”. Upon receipt of your completed form, we will activate your U.S. Securities Trading account within 5 working days.

View balance

The latest summary of your deposit and investment accounts in market value and their HKD equivalent, including your:

  • Multi-currencies Statement Savings Account
  • Time Deposit Account
  • One Account “Deposit”
  • One Account “Investment”

You can view your transaction records anytime for up to 100 days.

For new customer, the registration for eStatements service will be handled during the account opening process.

 

For existing customer, you can log-in to your i-banking and preset settings to subscribe to eStatements.

You may view the last 13 months (including the current month) of your eStatements and up to 100 days of eAdvices.

Payment Service (only applicable to customers who opened account via branch)

Customers who opened account via branch can use this service. If you have opened account via inMotion and wish to use this service, please visit any of our branches to apply full account service.

There is no limitation on the number of pre-registered account. Please visit any of our branches to register the required account.

No service charge for transferring funds to other bank account.

If you use account number to transfer funds to other local bank, please note that the receiving bank may have name checking on the payment received. Please input account name which is matched with the account name in receiving bank, otherwise, the transaction may be rejected by receiving bank.

“FPS” stand for Faster Payment System. A new payment service provided by Hong Kong Interchange Clearing Limited (HKICL), it is a cost effective, safe, efficient and widely accessible channel for all banking customers to send and receive payments on real-time basis.

“FPS” (Faster Payment System):

- 7x24 real time transfer. Payee will receive the payment immediately if the receiving bank/company supports real time payment

- supports transfer in HKD and CNY to other “FPS” service providers

CHATS (Clearing House Automated Transfer System):

- It allows the transfer of funding to other bank's account on the same day, provided that the application is submitted before the cut-off time

- supports HKD transfer to other local banks (note: You can use Remittance service to remit funds to other local banks for the following currencies: CNY, EUR or USD)

Yes, simply set the transaction limit of "Transfer to Non-registered account" and “Small-value funds transfer” as zero via CNCBI i-banking platform to disable all transfer to any non-registered account.

The minimum transaction amount for cross currency funds transfer would be HK$100 or its equivalent.

We will display the latest exchange rate on the confirmation page and it will be refreshed if the exchange rate changes with a pop up message for reconfirmation.

Small-value funds transfer allows you to transfer funds to non-registered payee without two factor authentication and subject to Small-value funds transfer daily transaction limit else the transfer will be processed by “FPS”. You will be required to activate this service at the first time you use it.

If you would like to make a transfer with an amount larger than your small-value funds transfer daily limit, please register the payee with funds transfer template to proceed.

Simply by deactivating the service via CNCBIi-banking platform. Go to “My Online Setup > Small-value Transfer Settings” for deactivation.

Yes, payment via “FPS” will be real time if the receiving bank/company supports real time payment processing; otherwise, the payment will be made on the same day or next day.

Confirmation alerts will be sent to the most recent email address registered with us. We will also send alerts to you if you have registered our “WeChat Account Binding” service. Also, if you perform small-value funds transfer to non-registered payee, a SMS alert will be sent.

The maximum daily limit for small-value funds transfer service set by the Bank is HKD 10,000 and the small-value funds transfer daily limit is shared between small-value funds transfer service via i-banking and inMotion, CITICpay service, WeChat Pay service using respective Deposit Account(s) and Stored Value Facilities Top Up service in form of eDDA. You can adjust the daily limit via i-banking or visit our branches for application.

Yes, if your payee has registered Addressing Service via any “FPS” service provider, you can make the payment by inputting your payee’s mobile number or email address.

Or you can simply select the mobile number or email address as payee from your Phone Book. To use this service, you need to grant and enable access permission to your contact list under Phone Settings and can change this settings anytime.

Yes, you can scan QR code to capture the payment details and to confirm the transfer instruction without inputting fields manually.

For QR code scanning service, you need to grant your camera with access permission under Phone Settings. You can change this settings anytime.

FPS Identifier is a unique random number generated by HKICL FPS associated with the account of a customer of a FPS service provider.

Addressing service allows you to register your mobile number and/or email address to “FPS” service provided by HKICL to receive payment via the registered mobile number and/or email address.

Yes, you can register and link up your mobile number and/or email address to one HKD account and one CNY account respectively. You can assign our Bank (CNCBI) as the “FPS” default account for receiving money with your mobile number and/or email address. If the mobile number or email address is the first registration in “FPS” Addressing Service, the record would be automatically set as your “FPS” default account.

You can register “FPS” Addressing Service in other banks and to enquire your non-CNCBI addressing records if you have registered addressing record with us.

Please visit any of our branches if you would like to update the mobile number for receiving the SMS Transaction Password from us. If you would like to update your email address with us, please log in to i-banking and go to “My Online Setup > Change Email Address” to amend using “Security Device” or “CNCBI Token”.

Please remove your outdated “FPS” addressing record if you have updated your mobile number and/or email address with us. To stay up to date, please ensure you have the latest contact information in the “FPS” service so to make sure you can receive funds from others.

Simple, just select the account preferred to be the default account for receiving funds if you have registered “FPS” Addressing Service with more than one “FPS” service providers.

If an account is terminated as the default account by you or by the relevant service provider for any reason, the most recently registered record in the Addressing Service will be assigned as the default account.

“FPS” Addressing Service registration does not support email address with more than 31 characters.

Transfer in and out

If you are a new customer opening an account on inMotion, you can simply log on to your local bank’s online banking service or visit their branches to transfer money via “Clearing House Automated Transfer System (CHATS)” or “Express Transfer”.

 

You can use the services from your local bank including but not limited to the following:

  • BANK OF CHINA (HONG KONG) LIMITED > Local Bank Transfer > Express Transfer
  • BANK OF EAST ASIA, LIMITED > Transfers Other Banks (Hong Kong) > Express- CHATS
  • CHINA CONSTRUCTION BANK (ASIA) CORPORATION LIMITED > Transfer to Local Bank Account > Express Transfer
  • CITIBANK (HONG KONG) LIMITED > Payments & Transfers > HKD Local Inter-bank Fund Transfer - Same Day
  • DAH SING BANK LIMITED > Fund Transfer to Other Bank > Transfer Express 
  • HANG SENG BANK, LIMITED > Transfers Other Local Bank Accounts > Express Transfer
  • HONGKONG & SHANGHAI BANKING CORPORATION LIMITED > Pay or transfer > Express Transfer
  • STANDARD CHARTERED BANK (HONG KONG) LIMITED > CHATS (Branch ONLY)

 

You can also deposit cheque into the Multi-currencies Statement Savings Account on inMotion over the counter or deposit into cheque drop-in box. Please pay attention, the cheque must be your own cheque issued to your own single name account with payer’s name printed. Cheque payer in a third party’s name, joint name, or without payer’s name printed will be rejected. The local bank account at the cheque deposit will not be registered as the designated account for transfer funds. For subsequent funds withdrawal, you need to firstly transfer funds via CHATS to inMotion in order to setup the designated account, and you can then withdraw funds to other local bank designated account.

Find branch locations >

We do not charge for transfer in, but your issuing bank may charge you for transfer out.

Please make sure that:

  • Your remittance account is a not a joint account
  • The name of the remittance account holder is identical to your name in inMotion
  • The remitted currency is the same as in your inMotion
  • The issuing bank is a licensed bank in Hong Kong
  • You use the Clearing House Automated Transfer System (CHATS) or cheque deposit over the counter or via cheque drop-in box to move your money into inMotion
  • The issuer’s name of the cheque deposit must be same as your own single name account. Cheque issuing in a third party’s name, joint name, or without issuer’s name will be rejected.

If you have additional questions about transfer in, please contact your issuing bank.

Yes, you can bind more than one local bank account held in your own name for transferring money into inMotion. Please note that the account currency must be HKD/USD/CNY.

No. Please visit any of our branches for assistance.

The minimum amount of every transfer out is HKD 100 (or equivalent).

The default daily limit of transfer out is HKD 30,000 (or equivalent). If you would like to adjust this limit, please log on to i-banking with desktop computer, click “My Online Set-Up” > “Set Transaction Limits”, and select “3. Transfer to pre-registered account(s) at other banks” to adjust this limit. This daily limit could be adjusted to a maximum of HKD 200,000 (or equivalent).

Please pay attention that increase transaction limit should be authenticated by CNCBI Token.

You can still make the request and we will transfer your funds on the next business session. Our service hours are from 9:00am to 4:30pm from Mondays to Fridays (except for holidays).

You’ll only receive notifications for transfer in/out via SMS, email and on WeChat (if you have already bound).

Currency/Transfer

With Currency/Transfer, you may:

  • transfer any of the 12 available currencies into your Multi-currencies Statement Savings Account or One Account “Deposit”
  • trade and transfer foreign currencies at preferential rates

We provide 12 currencies including HKD, CNY, USD, AUD, CAD, EUR, GBP, NZD, CHF, SGD, JPY and NOK.

No. Currently you can only transfer your money into your own account in “Currency/Transfer”.

The currency trading hours are from 8am on Monday to 1pm on Saturday.

Your trading/transfer minimum is HK$100 (or the equivalent).

Yes you can. Simply log-in to i-banking and go to “My online setting” to reset your daily trading limit anytime.

Please be reminded that you need to choose HKD as one of the currencies in a fund transfer.

Actual exchange rates of the currency pair being traded will be displayed on the confirmation page of the transaction.

Simply tap “Exchange Rate” when you make the transfer to find out your preferential exchange rate.

Time deposit

Yes, if you set up HKD, USD, CNY Time Deposit, no matter it’s new fund or existing fund with available tenure, you can enjoy preferential pricing.

Our service hours of Time Deposit in inMotion is:

For HKD Time Deposit:

  • Mon – Fri: 9:30am – 8:00pm

  • Sat: 9:30am – 4:00pm 

For CNY / USD Time Deposit:

  • Mon – Fri: 9:30am – 8:00pm 

Please note that service isn’t available on public holidays.

You can only set up another Time Deposit via inMotion right after the maturity date.

You can set up your Time Deposit via inMotion only on the same day during service hours.

Investment funds

Sure! As long as you own a One Account, you can trade investment funds via inMotion anytime!

inMotion provides the following Investment Funds services for you:

  1. Fund Search
  2. Fund Subscription
  3. Fund Redemption
  4. Fund Switching
  5. Order Status
  6. Investment Fund Account Portfolio Summary

We offer over 1,000 investment funds managed by reputable international fund management companies covering a wide fund range, including fixed income funds, balanced funds and equity funds.

 

Other than fund code / keyword / ISIN, you may search by any of the criteria below: 

  • Fund Company
  • Fund Category
  • Market and Sector
  • Product Risk Level
  • Investment Objective
  • Fund Currency
  • Morningstar Rating TM
  • Past Performance
  • Dividend Policy

Transaction fee (i.e. subscription/ redemption / switching fee) may vary across funds. You may check the fee of individual funds on the order input page.

Reminder: The dealing day and cut off time of Investment Funds service are Mondays to Fridays (excluding public holidays and special holiday (e.g. Typhoon)) and 15:15 or 16:15 (depends on the fund you selected). If we receive your order before the cut off time on dealing day, we’ll complete the order on the same day. If we receive your order on a non-dealing day or after the cut off time on dealing day, we’ll complete the order next dealing day.

Your order status and history up to 100 days can be viewed on inMotion “Investment Funds” > “Order Status" page anytime.

Your order cannot be amended or cancelled after order submission.

If we receive your order before the cut off time on dealing day, we’ll complete the order on the same day, then the subscription amount will be deducted from your settlement account within the same working day. Therefore, please ensure sufficient balance in your account.

It normally takes around 1 week for the proceeds from your fund redemption to be made into your settlement account.

It may be due to any of the following reasons:

  • Insufficient fund in the corresponding currency settlement account on the settlement day
  • Instruction being cancelled by fund companies

Securities trading

Sure! As long as you own a One Account “Investment”, you can trade securities via inMotion anytime!

inMotion provides the following Securities Trading services for you:

  • HK Market:
    • Stock Trading
    • Stock Quote (15 minutes delay)
  • All Market (including Hong Kong`, China A Shares and US):
    • View order status
    • Order Cancellation
    • View transaction history
    • Check portfolio summary

If you wish to trade U.S. Stocks and China A-Shares, please visit i-Banking or CITICmobile.

You can search the stock with the stock code in the “Securities Trading” of inMotion, or select the recent 10 stocks in the recent search function.

You have to pay third-party charges such as handling fee, securities management fee, transfer fee, stamp duty as well as bank charges such as brokerage commission fee. For details, please refer to the Investment Products Service Fees and Charges. The fees will be charged in Hong Kong Dollar.

Upon the Bank process the order, the purchase amount will be held on One Account “Deposit”. The actual debit of the money will take place on the settlement day.

You can search the stock with the stock code in the “Securities Trading”, the buying power of One Account “Deposit” will be displayed.

You can check your order status up to 18 days in inMotion’s “Securities Trading” > “Order Status" page anytime!  Also, You may opt to receive email or SMS for execution result.

We will introduce the function soon. At the moment, you may consider to cancel the order and re-submit the instruction.

Sure! You can cancel your order by pressing Cancel from the Action column and the Order Cancellation page will appear. To confirm the cancellation of your order by dragging the Confirm button to the right.

Click the Cancel button if you have selected an incorrect order to cancel or you do not wish to cancel the order. If an error has occurred, the details will be displayed. A Confirmation page will appear verifying that the order cancellation has been accepted for processing. From here you can click the Order Status link to check the order status. If you have an outstanding order that is not yet filled in the market, you may cancel it by clicking 'Cancel' on the Trade Status page to proceed the cancellation. Please note that cancellation request will be promptly submitted to relevant exchanges for execution on a best effort basis. Any fully cancel request or open or partially filled order amendment request cannot be guaranteed as the original order may be partially or fully executed. Cancellation or Amendment request is subject to the market conditions as well as prior execution of your original order.

All unmatched days orders will expire at the end of the Good Till Day. You will have to re-enter the order after the trading hours if you wish to keep the order for the next business day.

The order will be remarked in Trade Status as 'Expired' and withheld fund will be released to Usable Balance for Trading after Good Till Day market closed.

Yes, at present, the pre order transaction limit for Securities Trading transaction is HK$2,000,000 or equivalent.

You will receive a Trade Confirmation whenever there is a transaction in your trading account. Monthly statements will be sent to you within the first seven business days of each calendar month, showing the cash balance and all securities in your Securities Trading account and all your transaction activities within the previous month. Alternatively, you can access your account information through inMotion.

Duplicate statements can be issued on request. Please apply for reprints through our Securities Trading Service Hotline. Additional charges may apply.

To strengthen the security level for online transactions, starting from 22 Apr 2018, 2-factor authentication with physical security device or CNCBI Token App is required for any securities trading/enquiries via online platforms.

You may choose:

  • At-Auction Limit Order
  • Enhanced Limit Order
  • Market Order

inMotion is not supporting the odd lot order.

We only accept At-auction Limit Order within 199-price spread and Enhanced Limit Order within 23-price spread of the nominal price. Instructions that out of the spread will be rejected.

Yes, you can check, amend or cancel your order by cross channels, i.e. you may do it via i-banking, Automated Securities Trading Hotline, Manned Securities Trading Hotline or CITIC mobile.

Hong Kong Securities Trading will follow HKEX settlement cycle. Securities and money settlement will be on T+2 day.

When trading Dual Counter (RMB and HKD counters) securities trading, please note that if the issuer pays dividends in RMB only.

We will introduce the EIPO soon, you may submit the application through i-banking,  CITIC mobile, Automated Securities Trading Hotline or Manned Securities Trading Hotline.

  1. Download, print, complete and sign the corporate action reply slip from "eStatement/eAdvice".
  2. Take a photo of the completed reply slip.
  3. Conduct two-factor authentication by using CNCBI Token.
  4. Upload the photo via “Reply corporate actions”. Instruction will be processed within 1-2 working day(s).


Terms and Conditions for inMotion





Terms and Conditions for Use of the Mobile Application for inMotion Services


By installing and using this mobile application (the “App”), you agree to be bound by these terms and conditions (the “Terms and Conditions”).  If you do not agree to the Terms and Conditions, you shall not continue to use the App and shall uninstall the App.

These Terms and Conditions shall apply to any person (referred to herein as "You") who accesses or uses any feature of the App in respect of any service provided by China CITIC Bank International Limited (the “Bank”) under or pursuant to the App (the “Service”).

The Bank does not make any representation or warranty of any kind regarding the performance or operation of any device which you use to access the App (the “Device”).  You are responsible for the selection of the Device and for all issues relating to the operation, performance and costs associated with the Device (including any charges imposed by your internet service provider).

You must not use the App on any device or operating system that has been modified outside the device or operating system vendor supported or warranted configurations. This includes devices that are "jail-broken" or "rooted".

You are responsible for adequate protection and back up of data and/or equipment and for undertaking reasonable and appropriate precautions to prevent and scan for computer viruses or other destructive software in the Device.

You undertake to inform the Bank as soon as reasonably practicable if you know or suspect that any unauthorised person is able to use the Device to access the App.

The App is provided "as is" and without any warranty. The Bank has no obligation to correct any bugs, defects or errors in the App, or to otherwise support, maintain, improve, modify, upgrade, update or enhance the App.

Unless otherwise expressly stated, the information contained in or provided by the App is not intended to provide professional advice by the Bank and should not be relied upon in that regard.   You are advised to obtain appropriate professional advice where necessary.

You acknowledge and agree that messages sent over the internet cannot be guaranteed to be completely secure.  You shall also bear the risk of any delay, loss, diversion, alteration or corruption of any message transmitted from or via the App.

The Bank shall not at any time incur any liabilities to you in connection with any acts, omissions or circumstances at any time arising from or relating to the App (other than those liabilities arising from gross negligence or wilful default of the Bank), including any liabilities which may arise from any delay, interruption, disruption, suspension of or related to the use of the App.

You acknowledge and agree that the Bank may collect, transmit, store, and use technical, location, and login or other personal data and related information, including but not limited to technical information about your Device, system and application software, and peripherals, and information regarding your location, that is gathered periodically to facilitate the provision of software updates, product support, and any other services to you related to, or in connection with, the App.

The Bank may at any time delete, replace, add or change any term of these Terms and Conditions by giving you notice in accordance with the requirements of applicable codes or guidelines in Hong Kong. 

These Terms and Conditions are governed by and construed in accordance with Hong Kong law and you agree to submit to the exclusive jurisdiction of the Hong Kong courts.

If there is any conflict between the English and Chinese version of these Terms and Conditions, the English version shall prevail for all purposes.

(October 2017) 


Notes to Users of the Mobile Application for inMotion Services


You are advised to read and understand the following notes relating to the following features of this mobile application (the “App”) before you continue to use this App. If you do not agree to them, you shall not continue to use this App and shall uninstall this App.

1. Disclosure of your information to our service provider
Any information provided by you (including any photo of your identification documents) for applying for our service through this App may be delivered to our service provider (including TransUnion Limited) for the purpose of verification under our “Know-Your-Customer” requirement and procedure in respect of our service.

2. Consent for the provision of banking services (account opening) ONLY
A. You hereby give your consent to and authorize TransUnion Limited to use, process and match all information you provided, including but not limited to any information in any photo images or documents for the purpose of verifying your identity, documents or any information as part of the process to provide any banking services (e.g. account opening) by China CITIC Bank International Limited (the “Bank”), and thereafter to process, use and transfer the result of the verification or any data arising therefrom to the Bank.

B. You further agree that TransUnion Limited may access and use of your personal information in the manner described above and such access and use shall not be made the basis for any complaint, claim, suit, demand or cause of action or other proceedings against TransUnion Limited by you.

(October 2017)


Terms and Conditions for inMotion Services


These Terms and Conditions for inMotion Services (these “Terms and Conditions”) set out the respective rights and obligations of the Customer (as defined below) and China CITIC Bank International Limited (the “Bank”, which expression shall include all its branches and offices wherever situated and its successors and assigns) in connection with the inMotion Services (as defined below).

1. Definitions and Interpretation

1.1 In these Terms and Conditions:
“Customer” means the person (a) who has applied to the Bank for use of the inMotion Services; and/or (b) to whom the Bank has approved his application for use of the inMotion Services;
“Full KYC Procedure” means the procedure prescribed by the Bank at its discretion from time to time under which the Customer is required to personally attend the premises of the Bank (or its branch or any other location approved by the Bank) for completing the Bank’s KYC requirements for its general customers;
“inMotion Deposit Account” means, in relation to a Customer, the deposit account which the Bank will open for the Customer when the Bank has approved the Customer’s application for use of the inMotion Services;
“inMotion Services” means, in relation to a Customer, the service provided by the Bank through electronic channels or means in the service/brand name of “inMotion” under which, subject to such requirements and conditions as the Bank may at its discretion think appropriate, (a) the Customer may open accounts with the Bank and/or operate any account maintained by the Customer with the Bank; (b) the Bank may provide services to the Customer; (c) the Customer may make enquiries with the Bank and/or communicate with the Bank; (d) the Bank may provide information to the Customer; (e) the Customer may give instructions to the Bank and/or enter into agreements with or by the Bank; and (f) the Customer may enter into or effect any other transactions which the Bank may permit or approve;
“KYC” means “Know Your Customer”;
“Linked-Bank Account” means, in relation to a Customer, a bank account which is maintained by the Customer with a bank (approved by the Bank) in Hong Kong in the same name of the Customer; and
“New Customer” means the Customer who is not maintaining at least one bank account or credit card account with the Bank when the Bank has approved his application for use of the inMotion Services.

1.2 Unless contrary indication appears, any reference in these Terms and Conditions to:
(a) words importing the singular include the plural and vice versa and words denoting any gender includes all genders; and
(b) “including” or “includes” means including or includes without limitation.

2. Application for Use of inMotion Services

2.1 (For a New Customer) If the Customer makes an application to the Bank for use of the inMotion Services, the Customer shall follow such procedure and provide such documents and information as the Bank may determine through electronic channels or such other means approved by the Bank.  Without prejudice to the foregoing, the Customer may be required to provide his identification document and photo for the Bank’s KYC purpose.

2.2 (For a New Customer) If the Customer makes an application to the Bank for use of the inMotion Services, the Customer shall apply to the Bank for opening the inMotion Deposit Account with the Bank.  The Bank will open the inMotion Deposit Account for the Customer when the Bank has approved the Customer’s application.

3. Scope and Use of inMotion Services  

3.1 The scope and types of accounts, services, functions and transactions made available by the Bank, the applicable restrictions, conditions and transaction limits, the applicable cut-off time, the applicable fees and other features in respect of the inMotion Services will be determined by the Bank from time to time at its absolute discretion.

3.2 The Customer shall use the inMotion Services in accordance with any operation policies, procedures, guides and requirements relating to the inMotion Services as the Bank may provide or prescribe from time to time.

3.3 Without prejudice to Clauses 3.1 and 3.2, the Customer acknowledges and agrees to the following possible restrictions and limitations which may be imposed by the Bank in respect of the inMotion Services unless the Bank otherwise permits:
(a) (For a New Customer) Notwithstanding that the Bank has approved his application for use of the inMotion Services, the inMotion Services will not be made available to him unless he has remitted a sum into the inMotion Deposit Account from a Linked-Bank Account through CHATS or such other payment channel approved by the Bank;
(b) (For a New Customer) Before the Customer has completed the Full KYC Procedure, certain accounts, services, functions and transactions may not be made available to him;
(c) (For a New Customer) Fund remittance or transfer to any other account which is not maintained by the Customer with the Bank may not be permitted (except fund remittance or transfer to the Linked-Bank Account and any other bank account which is maintained in the same name of the Customer from which any sum has been remitted into the inMotion Deposit Account through CHATS or such other payment channel approved by the Bank and the currency of the fund to be remitted or transferred is same as the currency of fund which has been deposited into the inMotion Deposit Account from the Linked-Bank Account, or as the case may be, from such other bank account as aforesaid);
 (d) (For a New Customer) Fund deposit into the inMotion Deposit Account or any other account opened under the inMotion Services may not be permitted (except fund deposit from the Linked-Bank Account and any other bank account which is maintained in the same name of the Customer from which any sum has been remitted into the inMotion Deposit Account through CHATS or such other payment channel approved by the Bank);
(e) (For a New Customer) Cash withdrawal and other forms of payment via or by the Bank’s counters, ATM or cheque deposit may not be permitted;
(f) (For a New Customer) Only eStatements will be provided by the Bank;
(g) (For a Customer in respect of his investment/securities account) Only eStatements and eAdvice will be provided by the Bank (if and when applicable).  Subject to the agreement of the Bank, the Customer may choose to receive printed version of statements and advice (if and when applicable) by making an application through the Bank’s i-banking Service or any other means as designated by the Bank from time to time; and 
(h) (For a New Customer) Before the Customer has completed the Full KYC Procedure, the Customer may not be allowed to transfer any securities and investments into or out of his investment/securities account. 

3.4 The Bank may at its discretion add to, modify, restrict, suspend or terminate the inMotion Services at any time.

3.5 eStatements may be provided by the Bank to the Customer through electronic channels or means in respect of any accounts, services and transactions arising from or in connection with the inMotion Services.

4. Other applicable Terms and Conditions

4.1 The terms and conditions of the Bank’s (a) General Terms and Conditions; (b) Terms and Conditions for Deposit Accounts; (c) Terms and Conditions for i-banking Service (the “i-banking T&Cs”); and (d) Terms and Conditions for the eStatement and eAdvice service, shall apply to the inMotion Services.  In the event of any conflict between any of those terms and conditions and these Terms and Conditions, the latter shall prevail to the extent of the conflict.

4.2 For the avoidance of doubt, the Bank may (but is not obliged to) rely on any Security Code (as defined in the i-banking T&Cs) designated or used for access to the inMotion Services by the Customer as if it were the Customer’s name and signature for the purposes of the inMotion Services.

4.3 Without prejudice to Clause 4.1, each account or service provided by the Bank under the inMotion Services may be subject to the terms and conditions applicable to that account or service.  In the event of any conflict between these Terms and Conditions and other terms and conditions applicable to the relevant account or service, these Terms and Conditions shall prevail to the extent of the conflict.   

5. Limitation of liability and Indemnification

5.1 The Bank shall not at any time incur any liabilities to the Customer in connection with any acts, omissions or circumstances at any time arising from or relating to the inMotion Services (other than those liabilities arising from gross negligence or wilful default of the Bank).

5.2 The Customer shall indemnify and keep the Bank harmless from and against any and all claims, demands, liabilities, losses, damages, costs and expenses which may at any time be suffered or incurred by the Bank arising from or in connection with these Terms and Conditions (other than those suffered or incurred by the Bank arising from gross negligence or wilful default of the Bank).

6. Amendments

The Bank may at any time delete, replace, add or change any term of these Terms and Conditions by giving prior notice to the Customer in accordance with the requirements of applicable codes or guidelines in Hong Kong.

7. Severability

If any provision of these Terms and Conditions is or becomes illegal, invalid or unenforceable in any jurisdiction, that will not affect:
(a) the validity or enforceability in that jurisdiction of any other provision of these Terms and Conditions; or
(b) the validity or enforceability in other jurisdictions of that or any other provision of these Terms and Conditions.

8. Third Party Right

A person who is not the Bank or the Customer has no right under the Contracts (Rights of Third Parties) Ordinance (Cap. 623, the Laws of Hong Kong) to enforce or to enjoy the benefit of any term of these Terms and Conditions.

9. Governing Law and Jurisdictions

These Terms and Conditions are governed by and construed in accordance with Hong Kong law and the parties agree to submit to the non-exclusive jurisdiction of the Hong Kong courts.

10. Chinese Translation

The Chinese version of these Terms and Conditions is for reference purposes only. If there is any conflict between the English and Chinese versions of these Terms and Conditions, the English version shall prevail for all purposes.

(May 2018)

Terms and Conditions for Bank Accounts and Services





Terms and Conditions for Deposit Accounts


These Terms and Conditions are a set of Specific Terms and Conditions referred to in the General Terms and Conditions which I/we have agreed to be bound by. I/We may from time to time apply to open one or more Deposit Account and agree that each Deposit Account will be subject to these Terms and Conditions, the General Terms and Conditions and such other terms as may be agreed between me/us and the Bank in relation thereto.

Part 1: General Terms

1. The Bank may only accept such currencies as may be acceptable to it for deposit to the Deposit Accounts opened by me/us. When I/we desire to open a Deposit Account, I/we must tender account opening requests for the type of Account and currency selected. The Bank reserves the right to accept or refuse any account opening request.

2. For all types of Deposit Accounts, I/we shall conform to such minimum initial deposit and/or maintain such minimum balance as may be prescribed by the Bank from time to time.The Deposit Accounts shall also be subject to such charges as may be determined by the Bank from time to time.

3. I/We agree that interest is accrued at the rates for different types of Deposit Accounts published from time to time and/or advertised in the press by the Bank.

4. For HKD, interest will be calculated on the basis of 365-day year for ordinary years and 366-day year for leap years. For CNY and USD, interest will be calculated on the basis of 360-day year. For other currencies, the basis for interest calculation shall be determined by the Bank with reference to market practice.

5. Both of the passbooks and cheque books are the property of the Bank. They are not transferable or assignable and cannot be pledged as security. Passbooks and cheque books should be kept in a place of security under lock and key. In the event of lost of a passbook, a seal or chop used for operating any Deposit Account, any signed cheque or any blank cheque, immediate notice must be given to the Bank. If the Bank considers necessary, the Bank may issue a new passbook after search has been made and as the case may require an indemnity has been signed by me/us. A charge for issuing a new passbook may be imposed at the Bank's discretion.

6. Transaction of large amount of cash is subject to prior arrangement and charge(s) as the Bank determines absolutely. Withdrawal of foreign currency cash is subject to the availability of the cash and currency in question.

7. The Bank shall have the right to pay to me/us any amount withdrawn from the account by any of the following methods or by any combination of two or more thereof at the Bank's discretion namely:

(a) by cash in the currency of the deposit;

(b) by issuing to me/us a cheque drawn by the Bank on any bank in a country payable in the required currency whereupon I/We shall pay to the Bank its prescribed service charge(s);

(c) by cash or the Bank's "Cashier's Order" in Hong Kong Dollars after converting the amount equivalent at the Bank's then prevailing buying rate, whereupon I/We shall pay to the Bank its prescribed service charge(s).

Part 2: Terms and Conditions for Savings Account (For Passbook Savings Accounts, Statement Savings Accounts or Value Savings Accounts)

1. For Passbook Savings Accounts, interest earned will be credited to my/our account semi-annually while for Statement Savings Accounts and Value Savings Accounts, interest earned will be credited monthly on the last day of each calendar month.  Nevertheless, interest earned may be credited on such other basis as may be determined by the Bank from time to time. Interest is payable on Savings Accounts  closed up to the immediately preceding day.

2. I/We will be provided by the Bank with a passbook for any Passbook Savings Account. The passbook should be presented to the Bank for withdrawal or entering any interest or unposted items if requested by the Bank. The currency of each transaction and balance is shown in the column "CCY" at the end of each line of the passbooks or the statements, as the case may be. I/We will procure my/our Authorized Signatories to examine the passbook, if applicable, after each transaction before leaving the counter to ensure that appropriate entry has been made therein.

3. Withdrawals at the Bank's counter may be made by me/us or my/our Authorized Signatories on demand when the Bank is open for business. Withdrawals may not be made by means of cheques.

4. Any payments made by the Bank to a person producing the passbook, if applicable, together with a withdrawal form purporting to be signed and/or sealed or chopped as authorized by me/us or my/our Authorized Signatories shall have the same effect as if made to me/us personally and will absolve the Bank from all liabilities to me/us or to any other party. The Bank reserves the right to require me/us to make withdrawals in person and produce identification satisfactory to the Bank.

5. The passbook is for my/our reference and does not necessarily indicate the correct balance of the account as deposits may have been made or items charged without entry in the passbook.

Part 3: Terms and Conditions for Current Account

1. Withdrawals may be made by cheques signed by me/us or my/our Authorized Signatories or at the counter by me/us or my/our Authorized Signatories when the Bank is open for business or by electronic means as may be approved by the Bank.

2. Cheques drawn by me/us which have been paid may, after having been recorded in electronic form, be retained by the collecting bank or Hong Kong Interbank Clearing Limited ("HKICL") for such period as is stated in the rules relating to the operation of the Clearing House and after this, they may be destroyed by the collecting bank or HKICL as the case may be. The Bank is authorized to contract, inter alia, with collecting banks and HKICL in accordance with the terms in this paragraph.

3. The Bank reserves the right not to honour any cheque drawn by me/us if the relevant Current Account does not have sufficient funds, the cheque has any technical error or for any other reason that the Bank considers appropriate.

A service charge will be imposed by the Bank in respect of each dishonoured cheque.  Notwithstanding the aforesaid, the Bank may at its discretion honour any cheque even though the relevant Current Account does not have sufficient funds.  In such a case, I/we will immediately upon the Bank’s demand repay the amount overdrawn together with such handling charge(s) and interest.  Overdraw interest on the Current Account shall be calculated on its overdrawn amount daily at such rate as may be determined by the Bank from time to time and will be debited monthly on the last day of each calendar month and will bear compound interest thereafter.

4. Simple interest on the Current Account shall be accrued on its credit balance daily at such rate as may be determined by the Bank and will be credited monthly on the last day of each calendar month.

5. I/We understand that a "bearer" cheque is payable to the bearer of the cheque while an "order" cheque is payable to the payee named in the cheque only. Accordingly, the risk of fraud can be minimized by using "order" cheques instead of "bearer" cheques particularly when the cheque is to be sent by post or other channels. Since crossed cheques may only be credited into an account, the use of crossed cheques will therefore afford additional  protection to me/us.

6. I/We will exercise care when drawing cheques so as to avoid alteration or prevent fraud or forgery.  I/We am/are advised to insert the amount, both in words and figures, as close as possible to the left hand margin  so that there is no space for insertion.  The word "only" should be inserted after the amount stated in words.

7. I/We may stop payment of a cheque before it is paid by giving prior notice to the Bank in writing or by any other means as acceptable by the Bank. The Bank may impose such handling charge(s) as it may determine in respect of each stopped cheque.

8. Any alteration on a cheque must be confirmed by the drawer with signature.  The Bank is entitled to return any cheque which is incorrectly completed, altered without the aforesaid confirmation, post-dated or out-dated for more than six months. The Bank may impose such handling charge(s) as it may determine in respect of each such cheque.

9. I/We undertake not to pre-sign any cheque in blank.

10. I/We will be responsible for all losses if I/we fail to exercise reasonable care in drawing cheques or if I/we draw them by a means or in a manner that may facilitate alteration, fraud or forgery.

Part 4: Terms and Conditions for Time Deposit Account (For Time Deposit, Call Deposit, "SavingsBuilder 2" Account or High Yield Flexi Saver Account)

1. I/We may from time to time establish Time Deposit Accounts with such interest rate, tenor and currency as may be agreed between me/us and the Bank before establishment. The Interest rate applicable to each Deposit in such Time Deposit Accounts may be changed by the Bank without prior notice. Upon applying to open a "SavingsBuilder 2" Account or High Yield Flexi Saver Account, I/we shall specify my/our requested monthly instalment amount, currency, term, maturity day and the first monthly instalment payment date of the "SavingsBuilder 2" Account or High Yield Flexi Saver Account. The "SavingsBuilder 2" or High Yield Flexi Saver Account will be opened by the Bank on such terms as may be agreed by the Bank and advised to me/us and upon payment of the first monthly instalment.

2. Simple interest on the deposit will accrue daily and will only be payable on the maturity of the deposit. No interest may be payable to the deposit in case of a withdrawal before the maturity date.

3. A Time Deposit may not be withdrawn at any time before its maturity unless with the prior agreement of the Bank and on such terms as may be imposed by the Bank. A Call Deposit may only be withdrawn after I/we have given not less than one day's prior notice to the Bank. Withdrawal from the "SavingsBuilder 2" Account or High Yield Flexi Saver Account may only be effected on or after its maturity day. If the maturity thereof is not a business day of the Bank, withdrawal may be effected on the following business day of the Bank.

4. If no withdrawal is made by me/us on the maturity or no instruction on the withdrawal is received by the Bank from me/us before the maturity day of the Time Deposit or Call Deposit Account (whether or not it is a business day of the Bank), the Bank may renew the relevent deposit on terms similar to the matured deposit at the Bank's prevailing interest rate at the time of renewal. Notwithstanding the aforesaid, the Bank has no duty to make such renewal arrangement. If the Bank does not renew the matured deposit, I/we have no right to claim for any interest after maturity from the Bank.

5. A Time Deposit Account may, at my/our selection and subject to the Bank's agreement, be located in Hong Kong or offshore. Offshore deposits are placed by the Bank at any overseas branch, affiliate or correspondent of the Bank as my/our placement agent and will be subject to the terms and conditions imposed by and the laws of the location of such branch, affiliate or correspondent.

6. With the Bank's agreement, I/we may also swap my/our deposit in any Time Deposit Account in any currency into another currency upon its establishment and to swap it back into the original currency of the relevant deposit upon its maturity at such exchange rate as may be agreed between the Bank and me/us prior to the establishment of the deposit.

7. I/We shall pay the monthly instalment amount on or before the first monthly instalment date and on the same day of each succeeding calendar month during the term of the "SavingsBuilder 2" Account or High Yield Flexi Saver Account by way of direct debit.  For this purpose, I/we shall sign a Direct Debit Authorization in such form as may be satisfactory to the Bank. If the payment date of any monthly instalment shall fall on a day which is not a business day of the Bank, the relevant monthly instalment shall be paid on the immediately following business day of the Bank. If the payment date of any monthly instalment shall fall on the 29th, 30th or 31st day of a month and there is no corresponding day in the relevent month, the relevant monthly instalment shall be paid on the last business day of the Bank of the relevant month (for "SavingsBuilder 2" Account) and on the first business day in the following month (for High Yield Flexi Saver Account).

8. If I/we shall fail to pay any monthly instalment amount on or before the due day of the "SavingsBuilder 2" Account or High Yield Flexi Saver Account, I/we shall not be entitled to any interest unless otherwise agreed by the Bank except (for "SavingsBuilder 2" Account only) where I/we have paid any three monthly instalments on or before their respective due dates, I/we will be entltled to interest calculated at the prevailing rate for savings account of the relevant currency on the date of withdrawal of the relevent amount.

9. If payment is made by way of direct debit against any "SavingsBuilder 2" Account with any other bank, the relevant amount will be debited one business day before the due date for the relevant payment. If the account from which payment is to be debited is denominated in a currency different from that of the "SavingsBuilder 2" Account or High Yield Flexi Saver Account, the Bank shall be entitled to apply such  exchange rate as may be quoted by it in calculating the amount to be debited.

10. A quarterly statement in respect of the "SavingsBuilder 2" Account or High Yield Flexi Saver will be issued to me/us commencing from the date of payment of the first monthly instalment unless no transaction has been effected since the date of the last statement.

Part 5: Additional Terms and Conditions for Renminbi ("RMB") Savings Account, RMB Current Account and RMB Time Deposit Account (each a "RMB Account")

1. These Additional Terms and Conditions are applicable to a RMB Account and/or RMB Services and/or RMB cheques.

2. I/We understand and agree that any transactions executed through a RMB Account will be subject to any law, regulation or order, or any rule, direction, guideline, code, notice, restriction or the likes (whether or not having the force of law) issued by any regulatory authority, government agency, clearing bank or exchange body or professional body applicable from time to time (in Hong Kong and Mainland China) (collectively, "Applicable Regulations")

The Bank is fully authorized to reject or refuse to execute my/our deposit/exchange/remittance or other transaction instructions (or part of the transaction instructions) in violation of any of the Applicable Regulations. The Bank shall not be in anyway held liable for not refusing to execute the relevant instructions.

3. (For Personal Accounts only) No overdraft is permitted and no overdraft facility will be available to any RMB Account.

4. Amount stated on, or drawn under a cheque may be subject to the limit per cheque and the limit per day from time to time specified by the Bank (if any). In the event that such limit is exceeded, the Bank may at its absolute discretion and without prior notice:-

(a) pay some only for the cheques presented for payment under the RMB Current Account on the same day, in such order as may be determined by the Bank, so that the total sum paid on such day will be kept without exceeding such maximum amount (or such credit balance); and/or

(b) return any one or more of the presented cheques.

5. Without prejudice to Clause 4 above, if at any time the credit balance in the RMB Current Account is insufficient to pay for any cheque(s) presented to the Bank on any business day, the Bank may at its absolute discretion (but is not obliged to) transfer funds to the RMB Current Account from any of my/our Deposit Account with a view to paying any such cheques. In the event that the Bank decides to exercise its right under this Clause to transfer an amount from my/our other Deposit Account to the RMB Current Account to cover the shortfall, I/we hereby authorize the Bank to debit such shortfall from any of my/our Deposit Account. The Bank shall not be responsible for re-transferring the funds from the RMB Current Account to the relevant transferring Deposit Account if the related cheque is returned for any reason. The Bank  is entitled to charge a fee for the provision of the above RMB fund sweeping service and deduct the relevant fee from any of my/our account without prior notice to me/us. The Bank shall not be responsible to me/us or any third party for the consequences arising out of or in connection with the exercise of such right of transferring funds including any loss or damage suffered resulting from the lack or insufficiency of funds in my/our transferring Deposit Account to meet and/or discharge any applicable instructions, obligations or liabilities on the relevant transferring Deposit Account.

6. RMB cheques shall be used in Mainland China and in Hong Kong and in such manner in accordance with the Applicable Regulations, and their use is also subject to the laws and regulations of the place concerned and abide by the conditions, rules and procedures of the persons or banks to which the cheque is to be delivered or presented and the rules and restrictions as the Bank may impose from time to time.

7. The amount of credit balance in the RMB Current Account at the cut-off time as designated by the Bank from time to time on each business day of the Bank may be subject to a maximum limit as designated by the Bank and/or the Applicable Regulations from time to time (if any). In the event such limit is exceeded, the Bank is authorized to dispose or transfer any excess amount in such manner and to such account(s) (whether in RMB or other currencies) maintained by me/us as the Bank considers appropriate without prior notice to me/us. In case where currency conversion is involved, the applicable exchange rate shall be determined by the Bank at its absolute discretion.

8. The clearing of RMB takes place each day before the close of business of the Bank. The Bank may set a cut-off time for exchange transactions and may decline to exchange any currencies (other than RMB) with RMB after the Bank's designated time.

9. Applicable exchange and interest rates will be determined by the Bank and may differ from official or other rates. The Bank may require payments to or from me/us to be made in RMB or Hong Kong Dollars.

10. The Bank is entitled to take all necessary actions to comply with all Applicable Regulations. The Bank may provide all information and report any transaction in relation to my/our RMB Accounts to the clearing house and any regulatory authorities.

11. I/We acknowledge that it is my/our duty to ensure that the operation of RMB Accounts and any issuance of cheque(s) at all times complies with the Applicable Regulations and the rules and requirements imposed by the Bank.

If the Bank at any time reasonably believes that any RMB Account operation arrangement has been abused by me/us which results in the committing of a non-compliance of the Application Regulations, the Bank may exercise its discretion to take any necessary action as the Bank thinks fit (including closing my/our RMB Account(s)) without prior notice to me/us.

12. I/We understand and agree that the Bank is fully authorized to terminate any RMB Services provided by the Bank and to close any relevant RMB Account without giving any reason. The Bank is entitled to transfer the remaining balance (if any) in my/our RMB Account to my/our Hong Kong Dollar Account or in such other manner as the Bank thinks fit.

13. I/We understand that the Bank may from time to time set conditions or restrictions that apply to RMB Accounts and RMB Services and I/we agree to comply with all such conditions or restrictions.

14. I/We understand that these Additional Terms and Conditions are determined and may be amended by the Bank at any time and from time to time according to the Bank's agreement with the clearing bank and all Applicable Regulations. These Additional Terms and Conditions and their revision or addition shall become effective subject to the Bank's notice which may be given by display, advertisement or other means as the Bank thinks fit and shall be binding on me/us.

15. In relation to matters concerning any RMB Account, in case there is any inconsistency between these Additional Terms and Conditions and any other terms and conditions in these Specific Terms and Conditions, these Additional Terms and Conditions shall prevail. In the event of inconsistency between the Applicable Regulations and these Additional Terms and Conditions, the Applicable Regulations shall prevail.

In case of any discrepancy between the English and Chinese versions, the English version shall prevail.

(December 2016)


Disclosure for Bank Accounts


Risk Disclosure Statement

CNY is not freely convertible at present. The actual conversion arrangement will depend on the restrictions prevailing at the relevant time.

Deposit Protection Scheme Disclosure

The following types of deposit maintained with China CITIC Bank International Limited are deposits qualified for protection by the Deposit Protection Scheme in Hong Kong:

  • Current Account
  • Savings Account
  • Deposit maintained under One Account (One Account "Deposit")
  • Time Deposit with a maturity not exceeding 5 years
  • Interest Rate Yield Enhancing Deposit
  • Margin Account under Foreign Exchange and Gold Margin Trading Service

(July 2018)


Declaration for Bank Accounts


1. I/We acknowledge that I/we have read and understood the risks stated in the above Disclosure.

2. I/We confirm that I/we have received, read and fully understood and agree to be bound by the General Terms & Conditions of China CITIC Bank International Limited中信銀行(國際)有限公司 (the "Bank"), all applicable Specific Terms and Conditions referred to in the General Terms And Conditions, Notice to Customers and Other Individuals Relating to the Personal Data (Privacy) Ordinance and the Code of Practice on Consumer Credit Data, and other applicable Terms and Conditions.

3. I/We represent and warrant that the information provided in this Form, and supporting documents to this Form (if any) are true and correct and authorize the Bank to verify it, including contacting the relevant parties. I/We also undertake to notify the Bank immediately of any changes to the above information.

4. I/We also consent to the use of my/our personal data in accordance with your Notice to Customers and Other Individuals Relating to the Personal Data (Privacy) Ordinance and the Code of Practice on Consumer Credit Data, as amended from time to time.

5. My/our signature(s) in this Form shall be the specimen signature(s) for the newly opened deposit account(s).

6. Subject to applicable laws, I/we hereby consent for the Bank to disclose and share information, documentation or certification concerning myself/ourselves, my/our beneficiaries and third parties for whom I/we am/are acting as agent, including but not limited to my/our personal and account information or records, with any third party, including but not limited to any legal, regulatory, government, tax or law enforcement body within or outside of Hong Kong as is required for the Bank to provide services to me/us, including where necessary to establish my/our tax liability in any jurisdiction and also reporting of any reportable account(s) that may be reported to the Inland Revenue Department of the Government of the Hong Kong Special Administrative Region of the People’s Republic of China in which the account(s) is/are maintained and exchanged with tax authorities of another jurisdiction or jurisdictions in which the account holder may be resident for tax purposes pursuant to the competent authority agreement to exchange financial account information.

7. I/We acknowledge and agree that any payment by the Bank, including any payment made under the General Terms and Conditions and all applicable Specific Terms and Conditions referred to in the General Terms and Conditions (the "Applicable Ts&Cs"), may be subject to withholding and deduction as required under applicable laws, regulations, directives and guidelines, including under any Foreign Law Requirement (as defined in the Applicable Ts&Cs). Any amount so withheld may be held in whatever account or in whatever manner determined by the Bank at its sole discretion.

8. No provision in this declaration and other sections of this application form shall prejudice any consent, representation, undertaking or indemnity given by me/us (or on my/our behalf) or any other obligation or liability undertaken by me/us (or on my/our behalf) under or in connection with any other agreement between myself/ourselves and the Bank, including but not limited to the Applicable Ts&Cs.

9. I/We acknowledge that I/We am/are fully responsible for my/our own tax affairs, and that I/We am/are solely liable for understanding and complying with any legal, tax, foreign exchange control or regulatory obligations that may apply to me/us in any relevant jurisdiction. I/We confirm that I/We have and will continue to fully comply with relevant laws and regulations. During the tenure of business relationship, I/We will not carry out any transactions, or aid and abet, or facilitate the laundering of the related proceeds that links to unlawful activities, including but not limited to tax evasion, drug trafficking, other indictable offence, money laundering or transactions with terrorists, through my accounts with the Bank. I/We understand my/our tax status and transaction activity is subject to screening and monitoring as part of the Bank’s AML review in compliance with Hong Kong's regulatory requirements.

FATCA and CRS Self Certification

10. I/We undertake to advise the Bank of any change in circumstances which affects the tax residency status of the individual identified in this form or causes the information contained herein to become incorrect, and to provide the Bank with a suitably updated self-certification form within 30 days of such change in circumstances. 

Only applicable to Value Savings Account opening

11. I/We acknowledge and accept that a monthly maintenance fee will be debited from my/our Value Savings Account if the average monthly balance of my/our Value Savings Account falls below the minimum balance requirement designated by the Bank from time to time.

Only applicable to Securities Cash Account opening

12. I/We confirm that:

a. I/We have read and understand the Terms and Conditions for Securities Trading, the Overseas Securities Trading Supplemental Terms and Conditions and the China Connect supplemental Terms and Conditions of the Bank and agree to be bound by the same as amended from time to time by the Bank;

b. The Risk Disclosure Statements contained in the Terms and Conditions for Securities Trading, the Overseas Securities Trading Supplemental Terms and Conditions and the China Connect supplemental Terms and Conditions have been provided to me/us in the language of my/our choice and that I/we have been invited to read the same, to ask questions and to take independent advice if I/we wish;

c. I/We represent and warrant that I/we am/are not a U.S. person (i.e. a citizen or resident of the United States) or resident of Canada for purposes of U.S. or Canada tax laws and that I/we am/are not acting for, or on behalf of, a U.S. / Canada person. If my/our tax status changes and I/we become a U.S. person or resident of Canada, I/we must notify the Bank within 30 days and I/we am/are fully aware that any investment products that I/we am/are holding will immediately be redeemed and sale proceeds will be subject to U.S. / Canada tax information reporting. For purpose of complying with all applicable laws and regulations (including but not limited to applicable U.S./Canada tax laws), I/we waive any bank secrecy, privacy or data protection rights related to my/our account;

d. I/We am/are not a director(s), 10% or in excess of 10% beneficial shareholder(s) or policy-making officer(s) of a company/companies public ably traded in the U.S.; and

e. I/We am/are not at the time the Securities Cash Account is opened, and will not at any time during the continuance of the Securities Cash Account, hold in such account or effect transactions through such account, securities of any company with securities traded in the U.S. in which I/we am/are:

(i) direct or indirect owner or beneficial owner (which would include the power to vote shares pursuant to trust or other instrument) of 5% or more than 5% of any class of voting securities of the company;

(ii) in a direct or indirect management or other decision-making position in the company;

(iii) closely-related to (spouse, parent, sibling, in-law), financially dependent on, or the primary financial support for, any person who owns directly or indirectly outright or through beneficial ownership 5% or in excess of 5% of any class of voting securities in such company or holds a management or other decision-making position in such company; or

(iv) a member of a formal or informal group that acting together will control 5% or more than 5% of any class of voting securities of such company.

13. I/We represent for the purposes of any Northbound trading through China Connect that:

a. (i) I/we am/are not a Mainland China Resident / Mainland China Residents or an entity / entities incorporated or registered under the laws of Mainland China, (ii) if I/we am/are a Mainland China Resident / Mainland China Residents I/we am/are using funds lawfully owned by me/us and located outside Mainland China to make investments in China Connect Securities or (iii) if I/we am/are an entity / entities incorporated or registered under the laws of Mainland China, my/our investment in China Connect Securities has been conducted pursuant to any program (including the Qualified Domestic Institutional Investor Program, if applicable) approved by, or any other approval of, any competent Mainland China regulator; and

b. My/our investment in China Connect Securities does not violate the laws and regulations of Mainland China, including those in relation to foreign exchange control and reporting.

14. I/We confirmed that I/we am/are acting as principal and not trading on behalf of any other person and I/we am/are the person(s) ultimately responsible for originating the instructions in relation to and the person(s) that stands to gain the commercial or economic benefit of each transaction in the Investment Account and / or bear the commercial or economic risk.

15. I/We understand and acknowledge that RMB is currently not freely convertible and conversion of RMB through banks in Hong Kong may be subject to certain restrictions prevailing at the relevant time. Accordingly, I/we will be subject to RMB exchange rate risk and conversion risk if any taxes, levies, fees or charges imposed in relation to RMB denominated securities are charged in a currency other than RMB.

16. I/We acknowledge and understand that the product risk level of Hong Kong Securities Trading and Northbound trading through China Connect is the highest product risk level that is determined by the Bank. I/We also fully understand the risks associated with Hong Kong Securities Trading and confirm to proceed for the application of account opening of Securities Cash Account.

(May 2017) 


General Terms and Conditions


To : China CITIC Bank International Limited

In consideration of China CITIC Bank International Limited (中信銀行(國際)有限公司 ) (the "Bank") agreeing to provide and/or continue to provide its services and facilities to me/us, I and each of us agree to be bound by the following General Terms and Conditions:-

1. Application and Service

1.1 These General Terms and Conditions shall, unless otherwise determined by the Bank or stated in the applicable Specific Terms and Conditions, apply to all services and facilities provided or offered by the Bank to me/us from time to time.

1.2 The Bank will from time to time offer a wide range of services and facilities to its customers (each of such services or facilities is called a "Service"). Each of the Services will be provided by the Bank subject to these General Terms and Conditions, a set of the Bank's further terms and conditions (the "Specific Terms and Conditions") and/or such other terms and conditions as the Bank may notify me/us from time to time. I/We may apply to the Bank for any one or more of the Services in writing, by telephone or such other means as may be acceptable to the Bank. The Bank shall have the sole discretion in deciding whether to provide any of the Services to me/us. I/We undertake to obtain from the Bank the Specific Terms and Conditions applicable to the relevant Service before applying for the same. I/We also undertake not to utilize any of the Services unless and until l/we have received, read, fully understood and agreed to the applicable Specific Terms and Conditions. I/We will be deemed to have received and agreed to the applicable Specific Terms and Conditions if l/we utilize the relevant Service.

1.3 These GeneraI Terms and Conditions together with the applicable Specific Terms and Conditions supersede all the previous agreements between me/us and the Bank in respect of the relevant Service. This applies to Services applied for in my/our sole name and, subject to the agreement to be bound by these General Terms and Conditions by the other joint account holders or partners (as the case may be), in the joint names of myself/ourselves and other persons or in the name of a partnership of which I am/we are partner(s) or some of the partners. For the avoidance of doubt, utilization of any Service by me/us will be subject to these General Terms and Conditions and the applicable Specific Terms and Conditions.

1.4 The Service may be applied for by me/us in my/our sole name, in the joint names of myself/ourselves and other persons or in the name of a partnership of which I am/we are partner(s) or some of the partner(s). Whether or not l/we have signed the relevant application form or mandate with my/our other joint account holders or partners, l/we agree to be jointly and severally liable for all agreements, obligations, powers, authorities and liabilities with my/our other joint account holders or partners in respect of such Service.

1.5 Documents submitted to the Bank in connection with my/our application for any Service will not be returned.

1.6 In the event of conflict between these General Terms and Conditions and any of the Specific Terms and Conditions, the Specific Terms and Conditions will prevail in respect of the applicable Service.

1.7 The Bank shall be entitled from time to time to impose any limit whether in transaction amount, operating procedures or otherwise on the use of any Service and such limit shall be determined by the Bank at its discretion.

2. Instruction

2.1 I/We agree that the Bank may rely upon and act in accordance with instructions given to the Bank in connection with any Service offered to me/us or any of my/our accounts maintained by me/us with the Bank in the following manner:

(a) Instructions in writing signed by me/us or such number of authorized signatories appointed under the mandate for account operation or any letter of authority of any of the relevant accounts to which the instruction relates (each an "Authorized Signatory" and collectively the "Authorized Signatories"), or if the instruction does not relate to any account, signed by me/us or such number of Authorized Signatories appointed under the mandate for account operation or any letter of authority of any of my/our accounts, in each case with such signature specified in the mandate for account operation or any letter of authority of any account maintained by the Bank (including the relevant accounts) in original or, if approved by the Bank, sent to the Bank by fax provided that the Bank may, but is not obliged to, refuse to rely upon and act in accordance with an instruction signed by any Authorized Signatory with a signature different from that as specified in the mandate for account operation or any letter of authority of any of the relevant accounts to which the instruction relates;

(b) Instructions, if approved by the Bank, given to the Bank by telephone, through the Internet, other electronic means or other means as approved by the Bank if the person giving the instruction can (i) quote the account number of the account(s) to which the instruction relates, or if it does not relate to any account, the account number of any of my/our accounts; (ii) if required by the Bank, quote the personal identification number assigned by the Bank to me/us or any of the Authorized Signatories of the relevant account (each a "PIN"); (iii) if required by the Bank, produce such digital certificate of myself/ourselves or of any of the Authorized Signatories acceptable to the Bank; and (iv) produce or quote such other information as may be requested by the Bank, notwithstanding that the mandate for the relevant account may provide for account operation by more than one person.

2.2 The instructions referred to in paragraph 2.1 above include but are not limited to the application for any Service and the operation thereof, the honouring of any cheque, draft, order to pay, bill of exchange and promissory note, the issuance of any letter of credit, guarantee, indemnity or counter-indemnity, the discounting of any bill endorsed on my/ our behalf, the purchase or sale of or other dealings in securities, foreign exchange, interest rate transaction or investment, the order to withdraw any or all money on any of my/our accounts or to deliver or deal with any securities, deeds or other property whatsoever from time to time in the Bank's possession for my/our account.

2.3 The Bank may refuse to accept any instruction upon such grounds as it deems fit.

2.4 Without prejudice to paragraph 2.3 above, the Bank shall not be liable for any consequence arising out of its failure or delay in the execution of instructions referred to in paragraph 2.1 above owing to insufficient funds and/or credit facilities in my/our account; provided that if the Bank shall at its discretion decide to execute the instructions notwithstanding such insufficiency, the Bank may do so without seeking prior approval from or notice to me/us and l/we shall be responsible for the resulting overdraft, advance, credit and all charges thereby created and incurred with interest thereon at a rate determined by the Bank at its discretion.

2.5 I/We undertake to: (a) keep and procure each Authorized Signatory to keep his PIN secret and his digital certificate safe and if l/we and each of the Authorized Signatories act in good faith and is diligent in safeguarding his PIN and digital certificate, l/we shall not be liable to the Bank for any unauthorized transactions made pursuant to instructions given through the Internet or electronic means; (b) inform the Bank as soon as reasonably practicable if I/we know or suspect that, any unauthorized person knows my/our PIN or the PIN of any of the Authorized Signatories or that unauthorized transactions have been effected and if I/we fail to do so l/we shall be liable for any unauthorized transactions made; and (c) be liable for all losses if l/we or any Authorized Signatory acts fraudulently or with gross negligence including failing to properly safeguard my/our PIN or the PIN of any of the Authorized Signatory. However, l/we shall not be liable for indirect, special or consequential loss or damages.

2.6 Subject to paragraph 2.5 above, l/we shall not be responsible for any unauthorized transaction effected pursuant to any instruction given through automated telephone systems, the Internet or electronic means caused by: (a) a computer crime not prevented by the security system of the Bank; (b) a human or system error caused by the Bank resulting in an improper transaction leading to lost or misplaced funds; or (c) a missed or mis-directed payment caused by the Bank. I/We shall be entitled to reimbursement from the Bank for interest or late penalties incurred by me/us for missed payments attributable to the foregoing causes (a), (b) and (c).

2.7 In respect of instructions other than given through automated telephone systems, the Internet or other electronic means approved by the Bank, l/we shall, in the absence of negligence or wilful default on the part of the Bank, hold the Bank harmless and indemnify the Bank against all actions, proceedings, demands, claims, liabilities, damages, losses, reasonable costs and expenses howsoever arising, directly or indirectly, out of transactions effected in accordance with any instruction referred to in paragraph 2.1 above, or the Bank's failure to execute any such instruction or enforcement of the Bank's rights under this paragraph. This indemnity shall continue notwithstanding any termination of my/our account or these General Terms and Conditions or any Specific Terms and Conditions.

2.8 If any instruction is to be given through the Internet or other electronic means or if access to any Service may be gained through the Internet or other electronic means, l/we warrant to the Bank as follows:

(a) l/we and my/our Authorized Signatories will not gain access to any Service in any country or jurisdiction where the offering of the same by the Bank is not lawful or where these General Terms and Conditions or the applicable Specific Terms and Conditions may not be enforceable by the Bank against me/us;

(b) l/we and my/our Authorized Signatories will not, and will not attempt to, reverse engineer, decompose, disassemble or otherwise tamper with any software relating to any Service;

(c) l/we and my/our Authorized Signatories will ensure that the browser cache memory will be cleared as soon as l/we sign off each time after having gained access to any Service through use of computer and l/we will exit the browser immediately after each use of any Service through use of computer.

2.9 The Bank may record my/our telephone conversations with the Bank made in the course of business.

2.10 If the Bank shall provide any software, computer system, user guide or other facilities to me/us to facilitate me/us in the giving of instructions to the Bank, l/we will exercise all reasonable care in their use and shall return them to the Bank immediately upon its request. I/We understand that the Bank makes no representation or warranty of any kind, express or implied, with respect to these facilities and their use. These facilities shall remain the property of the Bank or its supplier at all times.

2.11 Any transaction effected pursuant to an instruction given to the Bank may be considered concluded only if the Bank has confirmed the same to me/us.

2.12 The Bank may accept the digital signature of myself/ourselves or any of the Authorized Signatories supported by a digital certificate tendered to the Bank issued by such certification authority as may be acceptable to the Bank. The Bank is entitled to treat such digital signature as the manual signature of the relevant person.

2.13 The Bank may presume the correctness of the information contained in a digital certificate tendered by me/us or any of the Authorized Signatories if the relevant digital certificate was published in a repository.

2.14 I/We understand due to unpredictable traffic congestion, openness and public nature of the Internet and other reasons, the Internet may not be a reliable medium of communication and that such unreliability is beyond the control of the Bank. This may subject transactions to delays in transmission, incorrect data transmission, delays in execution or execution of instructions at prices different from those prevailing at the time instructions were given, misunderstanding and errors in any communication between the Bank and me/us, transmission blackouts, interruptions and so on.

3. Statements

3.1 Unless otherwise determined by the Bank, a consolidated monthly statement of account summarizing the transactions effected through such of the Services utilized by me/us and selected by the Bank during the preceding month will be issued by the Bank as soon as practicable. The Bank will also issue a monthly statement of account summarizing the transactions effected through each Service utilized by me/us which is not covered by the consolidated monthly statement of account (other than Services for which a passbook is provided to me/us, Services with no transaction having been effected since the date of the last statement of account, accounts with the balance as at the end of the relevant month being less than such amount as may be notified by the Bank from time to time and loan accounts) during the preceding month will be issued by the Bank as soon as practicable. Monthly statements of account will be sent to me/us by mail, electronic means or such other means as the Bank may determine from time to time.

3.2 I/We undertake to verify the correctness of each statement of account and transaction confirmation received from the Bank within ninety (90) days from the receipt thereof of any discrepancies, omissions or debits wrongly made to or inaccuracies or incorrect entries in the Bank's record of transaction, statement of account and transaction confirmation as so stated. At the end of the ninety (90) day period commencing from the date of the relevant statement of account or transaction confirmation, the Bank's record of transactions and the details of the transactions as set out in such statement of account or transaction confirmation shall be conclusive evidence without any further proof that the Bank's record of transaction and the details in such statements of account or transaction confirmation are correct except as to any alleged errors so notified.

3.3 Notwithstanding anything aforesaid, the Bank shall be entitled to revise any statement of account or transaction confirmation previously sent to me/us to correct any details contained therein which have been wrongly or mistakenly made by the Bank. I/We agree that paragraph 3.2 above shall also apply to such revised statements of account or transaction confirmation.

3.4 Except as provided above and notwithstanding anything to the contrary in these General Terms and Conditions, the Bank shall be free from all claims in respect of the details of the transactions as set out in the statements of account notwithstanding any incorrectness of the details of the transactions as set out in the statements of account.

4. Customer Data

4.1 I/We agree that the data, documentation or certification concerning myself/ourselves, my/our beneficiaries and third parties for whom I/we are acting as agent requested by the Bank from time to time is required in order for the Bank to provide services to me/us and I/we agree to provide such data, documentation or certification as requested by the Bank. If l/we fail to provide the same to the Bank, the Bank may not be able to provide any service or facility to me/us and the Bank may close, transfer or suspend any service or facility. I/We may always contact the Data Protection Officer of the Bank to gain access to and request correction or amendment to such data.

4.2 I/We agree that the data, documentation or certification requested by the Bank referred to in paragraph 4.1 above, together with my/our other data obtained by the Bank from time to time and other data, documentation or certification that the Bank or any member of the Bank's group of companies may require in respect third parties, including but not limited to my/our personal and account information or records, may be disclosed to members of the Bank's group of companies, and may be disclosed by the Bank or any member of the Bank's group of companies to third parties including but not limited to any person, government body, agency or regulator, whether or not established under laws of the Hong Kong Special Administrative Region ("Hong Kong"), as required under any Foreign Law Requirement (as defined below).

"Foreign Law Requirement" means any obligation imposed on the Bank pursuant to any future or present (i) foreign laws (including foreign laws in respect of which the Bank reasonably considers itself bound and including any laws or regulations of the People's Republic of China); (ii) Hong Kong laws that implement Hong Kong's obligations under an agreement with a foreign government or regulator; (iii) under agreements entered into between the Bank and a foreign government or regulator; or (iv) guidelines or guidance issued by any legal, regulatory, government, tax or law enforcement body within or outside of Hong Kong in respect of (i) to (iii). For the avoidance of doubt, this definition includes any obligation or requirement applying to the Bank pursuant to FATCA (as defined below) and as amended, superseded or introduced from time to time.

"FATCA" means (i) sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986 (as amended) or any amendment or successor version thereof (the "USIRC"); (ii) any intergovernmental agreement, memorandum of understanding, undertaking and other arrangement between governments and regulators in connection with the USIRC including as entered into by the government of Hong Kong; (iii) agreements between the Bank or any member of the Bank's group of companies and the United States of America ("US"), US Internal Revenue Services or other regulator or government agency pursuant to or in connection with the USIRC; and (iv) any laws, rules, regulations, interpretations, guidelines, guidance or practices adopted in the US, Hong Kong or elsewhere pursuant to any of the foregoing.

4.3 Pursuant to paragraph 4.2 above, any such person or entity may use such data for such purposes as are respectively set out in the "Notice of Customers and Other Individuals Relating to the Personal Data (Privacy) Ordinance and the Code of Practice on Consumer Credit Data" of China CITIC Bank International Limited from time to time.

4.4 (Applicable where the customer is an individual or consists of individuals) I/We may at any time in accordance with the Personal Data (Privacy) Ordinance (a) check whether the Bank holds data about me/us and have access to such data upon paying such fees as may be imposed by the Bank; (b) require the Bank to correct any data relating to me/us which is inaccurate; (c) ascertain the Bank's policies and practices in relation to personal data; (d) request the Bank to inform me/us of the items of data which are routinely disclosed to a credit reference agency and in the event of default to a debt collection agency; (e) request the Bank to provide me/us with further information to enable the making of an access and correction request to the relevant credit reference agency or debt collection agency; and (f) require the Bank to cease using my/our personal data for its marketing purposes without charge.

4.5 I/We agree that the Bank may provide to any person who has given or who proposes to give a guarantee or a third party security to secure any of my/our liabilities with a copy or summary of the contract evidencing the obligations to be guaranteed or secured, copies of any formal demand for overdue payment sent to me/us, my/our statements of account and such of my/our other data as the Bank may deem fit.

4.6 I/We hereby warrant that l/we will obtain the prior consent of my/our referees and any other third party whose personal data you disclose as required under this clause 4 before giving their names and other personal data to the Bank.

4.7 I/We hereby warrant that all information provided by me/us to the Bank is provided voluntarily and that such information is true, correct and complete in all respects.

4.8 I/We undertake to notify the Bank in writing promptly (and in any event within 30 calendar days of the relevant change) of any change of address or contact telephone number or other personal particulars recorded with the Bank including information about persons referred to in clause 4.2.

4.9 I/We waive any claims to confidentiality in respect of data or information disclosed for the purpose of the Bank exercising its rights under this clause 4.

5. Consent to deduct, withhold and block

5.1 I/We acknowledge and agree that notwithstanding any other provision of these General Terms and Conditions or any Specific Terms and Conditions, any payments by the Bank under General Terms and Conditions or any Specific Terms and Conditions, will be subject to withholding and deduction as required under Foreign Law Requirements. Any amount withheld under this paragraph 5.1 may be held in whatever account or in whatever manner determined by the Bank at its sole discretion.

5.2 The Bank will not be liable for any gross up, loss or damage suffered as a result of exercising its rights under paragraph 5.1.

5.3 I/We acknowledge and agree that any transaction, payment or instruction may be delayed, blocked, transferred or terminated where required for the Bank to meet its legal obligations including those under any Foreign Law Requirement.

6. Right of Set-Off and Appropriation

6.1 I/We agree that in addition to any general lien or similar right to which the Bank may be entitled at law, the Bank may at any time without prior notice, combine or consolidate any or all of my/our accounts (wherever situate) with my/our liabilities and, in case where we are a corporation, the liabilities of any member of our group of companies to the Bank or any of its branches, sub-branches or subsidiaries and set off or transfer any sum or sums standing to the credit of any of my/our accounts in or towards satisfaction of the aforesaid liabilities to the Bank, whether such liabilities be primary, collateral, several, joint or in other currencies. Further, in so far as my/our liabilities to the Bank are contingent or future, the Bank's liability to me/us to make payment of any sum or sums standing to the credit of any of my/our accounts shall to the extent necessary to cover such liabilities be suspended until the happening of the contingency or future event. For this purpose and any other purpose where this term is used in these General Terms and Conditions, the expressions "group of companies" and "subsidiary" bear the same meaning ascribed to it in Companies Ordinance.

6.2 The Bank shall have the right to appropriate either at the time of payment or at any time thereafter any money paid to the Bank or otherwise coming into the Bank's possession or control for my/our account in or towards discharging whichever part of my/our liabilities to the Bank as the Bank shall think fit. Any such appropriation shall override any purported appropriation by me/us.

7. Investment Information

7.1 I/We fully understand that any transaction effected by me/us through use of any Service shall be made ultimately upon exercise of my/our own judgment and at my/our own discretion notwithstanding any information, suggestion or documents the Bank may have provided to me/us.

7.2 I/We request the Bank to contact me/us on investment opportunities which the Bank believes may be of interest to me/us. However, l/we understand that the Bank is not obliged to provide me/us with any financial, market or investment information, suggestion or recommendation, but if it does so, it does not act as an investment adviser.

7.3 Any information, suggestion or recommendation communicated to me/us by the Bank are based on information obtained from sources believed by the Bank to be reliable, are for my/our own use and consideration only and will not constitute an offer to sell any investment to me/us.

7.4 I/We agree that in the absence of negligence on the part of the Bank, the Bank will not be liable for any inaccuracy or incompleteness of any information provided by the Bank or the performance or outcome of any transactions effected by me/us after receipt of such information.

7.5 Any exchange rate, interest rate, price of securities or other similar information quoted to me/us is for my/our reference only and shall not be binding on the Bank unless confirmed by the Bank for a transaction.

8. Fees and Charges

8.1 The Bank may impose fees or charges for providing any service. Such fees and charges are detailed in the Bank's schedule of charges published from time to time and displayed at the Bank's premises. The schedule will be provided to me/us upon request. The Bank may revise the fees and charges applicable to any Service utilized by me/us at its discretion upon prior notice to me/us. Charges not set out in the schedule will be advised when the Services for which the charges are imposed are applied for by me/us or upon my/our request. The Bank may debit fees and charges to any of my/our accounts.

8.2 The Bank may impose service charges if:-

(a) the balance on any of my/our accounts is below such minimum balance requirement for the time being specified by the Bank;

(b) the average aggregate daily credit balance of any of my/our accounts with the Bank (as determined by the Bank) in any time period specified by the Bank is below the amount for the time period stipulated by the Bank for such purpose; or

(c) no transaction has been effected through any of my/our accounts (other than interest payment or payment of any fees or charges) for a continuous period as specified by the Bank for the time being, irrespective of the amount of the balance on such account.

8.3 The Bank may impose such penalty or other charges in accordance with the schedule of charges published from time to time by the Bank if l/we overdraw my/our accounts.

8.4 The Bank reserves the right to levy deposit charges on all accounts in accordance with any rules of any regulatory bodies of the Bank as the same may from time to time be in force.

8.5 The Bank may include its fees or charges in the price or rate for the investment quoted by the Bank to me/us or transact for me/us and retain such fees or charges for its own benefit. The Bank may accept rebates, fees and other forms of payment from any person in respect of any transaction effected for me/us and retain the same for its own benefit.

8.6 I/We will reimburse the Bank of all its reasonable costs and expenses (including reasonable legal costs) incurred by it in connection with the enforcement of its rights under these General Terms and Conditions or any Specific Terms and Conditions.

9. Deposits and Withdrawals

9.1 All cheques and other monetary instruments are accepted for my/our account at the discretion of the Bank and are credited subject to their being paid during banking hours of the Bank, unless otherwise permitted at the Bank's discretion. No interest will be paid on any funds credited into any of my/our interest bearing accounts until such funds have been actually received by the Bank during banking hours of the Bank and in the case of credit by way of remittance, receipt of confirmation from the relevant correspondent bank of the remittance by the Bank during banking hours of the Bank (whichever is later). The Bank is entitled to debit its charges, fees and expenses and the value of any items subsequently returned unpaid to my/our account. Funds received by the Bank for my/our account by way of remittance will be credited into my/our account within a reasonable time after receipt of confirmation from the correspondent bank by the Bank.

9.2 If any money received by way of remittance or any instructions from any third party in the currency other than the currency of the account specified, the Bank may in its discretion without notice to me/us convert the funds to be credited into the currency of such account at the Bank's prevailing rates of exchange for value on the date when the funds is credited.

9.3 All withdrawals or investment may only be made by me/us against sufficient cleared funds in my/our relevant accounts. Any withdrawal or investment made on the assumption that funds will be cleared but not so cleared will be reimbursed by me/us immediately upon the Bank's demand. All cheques or monetary instruments will be purchased or discounted by the Bank on this basis.

9.4 Funds are sent entirely at my/our own risk and the Bank shall have no responsibility to me/us for any mutilation, interruption, omission, error, neglect, default, mistake, delay, diminution or unavailability of funds which may occur in the transmission of any message or from its misinterpretation by any wireless telegraphy or telex company or by the Bank or its correspondent, agent or its employee or through any other cause beyond its control.

9.5 Withdrawals from any of my/our accounts maintained with the Hong Kong office of the Bank may only be made in Hong Kong although, if the Bank agrees, withdrawal may be made at another branch of the Bank outside Hong Kong.

9.6 No payment to the Bank shall discharge any of my/our obligations or liabilities unless and until the Bank shall have received payment in full in the currency in which such obligation or liability was incurred. If an amount due to the Bank from me/us in one currency is received by the Bank in another currency, my/our obligations to the Bank in respect of such amount shall only be discharged to the extent that the Bank may purchase the first currency with the second currency in accordance with normal banking procedures. If the amount of the first currency which may be so purchased (after deducting any costs of exchange and any other related costs) is less than the amount so due, l/we shall indemnify the Bank against the shortfall. If and to the extent that l/we fail to pay any amount denominated in a currency other than Hong Kong dollar on demand, the Bank may in its discretion without notice to me/us purchase at any time thereafter so much of such currency as the Bank considers necessary or desirable to cover my/our obligations and liabilities in that currency at the then prevailing spot rate of exchange of the Bank (as conclusively determined by the Bank) for purchasing that currency with Hong Kong dollar and l/we hereby agree to indemnify the Bank against the full Hong Kong dollar cost incurred by me/us for such purchase.

10. Joint Accounts and Partnership Accounts

10.1 In respect of accounts in the names of or opened by two or more persons, (a) all agreements, obligations, powers, authorities and liabilities of the joint account holders to the Bank in connection with such account shall be joint and several; (b) upon the death of any joint account holder the balance (if any) standing to the credit of such account and any investments and properties of any description held in the joint names of the account holders shall, subject to applicable laws, belong to the survivor(s) thereof. In the event the title of an account bears the names of more than one person, whether such names are stated in a disjunctive, conjunctive or other manner in the title, such account shall be deemed to be an account in the names of or opened by all such persons as joint account holders. Any cheques, instruments of payment or sums expressed to be payable to us or any of us or for any account(s) in our joint names or in the name of any of us may be credited into such joint account(s).

10.2 If we are a partnership, (a) the agreements, obligations, powers, authorities and liabilities of each of us shall be joint and several; (b) these General Terms and Conditions and any applicable Specific Terms and Conditions shall continue to bind us notwithstanding any change in our constitution, name or membership by reason of death, bankruptcy, retirement, disability, or admission of new partners or the occurrence of any other event which may dissolve the partnership or otherwise affect our obligations thereunder; (c) upon any partner ceasing to be a member of our partnership by death or otherwise, the Bank may in the absence of written instruction to the contrary from us or any of us or the personal representatives or trustees of any of us treat the surviving or continuing partners or partner or other partners for the time being as having full power to carry on the business of our partnership.

11. Security in favour of third party

11.1 I/We agree that l/we shall not, during such time when l/we have any liabilities (present and future, joint or several, direct or indirect, actual or contingent) to the Bank, charge, assign, sell, transfer or create any encumbrance or deal with or grant any third party rights over or against any part of my/our account or any of my/our assets kept by the Bank for my/us or the proceeds thereof.

11.2 I/We irrevocably appoint the Bank to be my/our agent, and in my/our name or otherwise on my/our behalf to sign, execute, deliver, perfect and do all instruments, acts and things which may be required or which the Bank shall think fit for carrying out any of my/our obligations under these General Terms and Conditions or any Specific Terms and Conditions and of the security granted thereunder. I/We ratify and confirm and agree to ratify and confirm any instrument, act and thing which such attorney may lawfully execute or do.

12. Limitation of Liability

12.1 I/We agree that except in the case of negligence or wilful default and subject to paragraph 2.5 above, the Bank will not be liable for any action or omission to act in connection with any of my/our accounts or any service provided by the Bank including the following:-

(a) the operation of any of my/our accounts and the provision of any of the Services by the Bank;

(b) the availability of any of the Services being restricted or affected by any cause or for whatever reason;

(c) the acts, omission, negligence or default of any correspondent, broker, agent, custodian or other parties involved in any transaction;

(d) the reliance upon any instruction by the Bank in accordance with these General Terms and Conditions which the Bank believes in good faith to be given by me/us or my/our relevant Authorized Signatories notwithstanding any error, misunderstanding, fraud or lack of clarify in the terms of such instructions;

(e) the diminution or unavailability of funds due to restrictions on convertibility or transferability, requisitions, involuntary transfers, acts of war or strike, or other similar causes beyond the Bank's control.

12.2 In no event will the Bank be liable for my/our loss of profit, indirect, special or consequential damages.

13. Indemnity

Without limitation to any other indemnity provided by the me/us to the Bank or any member of the Bank's group of companies under any arrangement or agreement (including but not limited to the General Terms and Conditions and any Specific Terms and Conditions), I/we agree to indemnify the Bank and any member of the Bank's group of companies against any loss or cost it suffers or incurs, including taxes, interest or penalties, as a result of me/us providing misleading or false information or otherwise failing to comply with any requirement under these General Terms and Conditions or any Specific Terms and Conditions. The Bank is entitled to withhold, retain, or deduct such portion from the my/our assets in the possession or control of the Bank or such amount(s) from any of the my/our accounts with the Bank as it determines to be sufficient to cover any amount which may be owed by the me/us under this clause. This indemnity shall continue notwithstanding the termination of the banking relationship between me/us and the Bank.

14. Certificate of Indebtedness

14.1 A certificate issued by the Bank stating the amount due and payable by me/us to the Bank, interest rates and exchange rates at any particular time shall be final and conclusive for all purposes including for the purpose of legal proceedings.

14.2 Records of my/our dealings with the Bank kept by the Bank (including records contained in computer, microfilm, books and other records of the Bank) shall constitute conclusive evidence unless (a) the Bank has failed to exercise reasonable skill and care in respect of any such computer record, microfilm, books and records, (b) the contents of any such computer records, microfilms, books and records are the result of forgery or fraud of any employee, agent or servant of the Bank or (c) the contents of any such computer records, microfilms, books and records are the result of the wilful default or gross negligence of the Bank or any of its employees, agents or servants.

14.3 The Bank may commission a debt collection agency to collect any overdue amount owed by me/us to the Bank.

14.4 I/We understand l/we should inform the Bank as soon as possible of any difficulty in repaying my/our outstanding indebtedness to the Bank or servicing any loan over the credit period.

15. Miscellaneous

15.1 If any one or more of the provisions contained in these General Terms and Conditions shall be invalid, unlawful or unenforceable in any respect under any applicable law, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired.

15.2 (a) These General Terms and Conditions and any Specific Terms and Conditions shall benefit and be binding on the Bank and me/us, their respective successors and subject to this paragraph 15.2, any permitted assignee or transferee of some or all of the Bank's rights or obligations under this agreement.

(b) I/We may not assign or transfer all or any of my/our rights or obligations under these General Terms and Conditions or any Specific Terms and Conditions.

(c) The Bank may transfer all or part of the Bank's rights, benefits and obligations under these General Terms and Conditions and/or any Specific Terms and Conditions and disclose to a potential transferee or any other person proposing to enter into contractual arrangements with the Bank in relation to the same such information about me/us as the Bank may think fit for the purposes of such contractual arrangements.

15.3 I/We acknowledge and agree that I am/we are fully responsible for my/our own tax affairs, and that I am/we are solely liable for understanding and complying with any legal, tax, foreign exchange control or regulatory obligations that may apply to me/us in any relevant jurisdictions. I/We confirm that I/we have and will continue to fully comply with all relevant laws and regulations, and will not carry out any transactions, or aid and abet, or facilitate the laundering of any proceeds that links or relates to unlawful activities, including but not limited to tax evasion, drug trafficking, other indictable offence, money laundering or transactions with terrorists, through my/our account(s) with the Bank. I/We understand my/our tax status and transaction activity is subject to screening and monitoring as part of the Bank’s anti-money laundering review in compliance with legal and regulatory requirements.

15.4 This clause does not apply to Corporate Professional Investors (where the Bank has complied with paragraphs 15.3A and 15.3B of the Code) or Institutional Professional Investors under the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission. If the Bank solicits the sale of or recommend any securities, futures contracts or leveraged foreign exchange contracts as defined under the Securities and Futures Ordinance ("Applicable Financial Products") to me/us, the Applicable Financial Products must be reasonably suitable for me/us having regard to my/our financial situation, investment experience and investment objectives. No other provision of these General Terms and Conditions, other (c) The Bank may transfer all or part of the Bank's rights, benefits and obligations under these General Terms and Conditions and/or any Specific Terms and Conditions and disclose to a potential transferee or any other person proposing to enter into contractual arrangements with the Bank in relation to the same such information about me/us as the Bank may think fit for the purposes of such contractual arrangements. related Specific Terms and Conditions or any other documents the Bank may ask me/us to sign and no statement the Bank may ask me/us to make derogates from this clause. For the purposes of this clause, "leveraged foreign exchange contracts" refer to those leveraged foreign exchange contracts traded by persons licensed for Type 3 regulated activity.

15.5 The Bank's failure or delay in exercising any rights, power or privilege in respect of these General Terms and Conditions or any Specific Terms and Conditions shall not operate as a waiver, nor shall a single or partial exercise, enforcement or waiver of any such rights, power or privilege preclude the Bank's further exercise, enforcement, or the exercise or enforcement of any other right, power of privilege hereunder.

15.6 I/We hereby agree at any time and from time to time, at my/our expense, to promptly execute, seal or deliver all further instruments and documents, and take all further actions that may be necessary or that the Bank may request to accomplish the purposes of these General Terms and Conditions or Specific Terms and Conditions.

15.7 In the event of any inconsistency between the English version and the Chinese version of these General Terms and Conditions or any Specific Terms and Conditions, the English version shall prevail.

15.8 I/We shall provide a list of my/our current partners, directors, secretary or officers (as the case may be) from time to time to the Bank and the Bank may continue to treat the list most recently received as correct.

15.9 Nothing here in shall require the Bank to provide or continue any banking facilities or other accommodation or services to me/us. These General Terms and Conditions and any Specific Terms and Conditions may be terminated by the Bank by giving reasonable prior notice to me/us. Termination of these General Terms and Conditions will automatically terminate all Specific Terms and Conditions but termination of any Specific Terms and Conditions will not terminate these General Terms and Conditions or any other Specific Terms and Conditions.

15.10 Any release, settlement, assignment, payment or discharge between myself/ourselves and the Bank shall be conditional upon no security, disposition or payment to the Bank in respect of my/our liabilities or obligations or any other person being avoided or set aside or ordered to be surrendered, paid away, refunded or reduced by virtue of any law relating to dissolution, insolvency, composition or arrangement for the time being in force or for any other reason whatsoever and the Bank shall be entitled to recover from me/us or any other relevant person the value which the Bank placed upon such security or disposition or the amount of such payment as if such release, settlement, assignment, payment or discharge had not occurred.

16. Amendments

16.1 The Bank may at any time delete, replace, add or change any term of these General Terms and Conditions or the Specific Terms and Conditions applicable to any Service applied for or utilized by me/us (including any applicable fees or charges) by giving prior notice to me/us in accordance with the requirements of applicable codes and guidelines.

16.2 The Bank may at any time introduce any new Service or delete any existing Service. A list of the Services which the Bank may offer to me/us pursuant to these General Terms and Conditions at any particular time and their applicable Specific Terms and Conditions may be obtained from the Bank upon request.

17. Notice

17.1 Any notice or instruction from me/us to the Bank shall be irrevocable and ineffective until actually received by the Bank.

17.2 Any notice required to be given by the Bank to me/us shall be deemed to have been so given if addressed to me or any one of us at the last known address of the recipient. Any notice delivered by the Bank personally shall be deemed to have been given at the time of delivery. Any notice despatched by the Bank by letter postage prepaid shall be deemed to have been given immediately after posting. Any notice sent by facsimile, by email or otherwise via the internet shall be deemed to have been given at the time of transmission.

17.3 I/We will promptly notify the Bank in writing of any change of address to which statements and notices should be sent. Such changes shall not be effective until duly entered in the Bank's records.

18. Rights of Third Parties

Except as otherwise expressly stated in these General Terms and Conditions, no one other than a party to these General Terms and Conditions may enforce any of its terms under the Contracts (Rights of Third Parties) Ordinance, Cap. 623 of the Laws of Hong Kong. Where any clause of these General Terms and Conditions entitles any third party to enforce any term of these General Terms and Conditions under the Contracts (Rights of Third Parties) Ordinance, the parties reserve the right to vary that term or any other term of these General Terms and Conditions without the consent of that third party.

19. Governing Law and Jurisdiction

19.1 Subject to any express provision contained herein or in the relevant Specific Terms and Conditions, these General Terms and Conditions and all Specific Terms and Conditions will be governed by and construed in accordance with the laws of the Hong Kong Special Administrative Region.

19.2 Each transaction or its underlying investment or instrument shall be subject to the laws of the jurisdiction where it is made or located and also the rules, regulations, guidelines, policies and directives of all relevant governmental and other regulatory bodies and agencies.

19.3 I/We hereby irrevocably submit to the non-exclusive jurisdiction of the courts of the Hong Kong Special Administrative Region.

(June 2017)


Terms and Conditions for i-banking Service


These Terms and Conditions are a set of Specific Terms and Conditions referred to in the General Terms and Conditions which I/we have agreed to be bound by. I/We may from time to time use i-banking Service supplied by China CITIC Bank International Limited (the "Bank", which expression shall include all its branches and offices wherever situated, its successors and assigns), and agree that the i-banking Service of the Bank will be subject to these Terms and Conditions, the General Terms and Conditions and such other terms as may be agreed between me/us and the Bank in relation thereto.

1. Definitions and Interpretation

1.1 In these Terms and Conditions, the following words and expressions shall have the following meanings:

"Business Day" means a day on which the Bank is open for banking business in Hong Kong but excluding Saturday and Sunday.

"Hong Kong" means the Hong Kong Special Administrative Region of the People's Republic of China.

"i-banking Instruction" means any enquiry, request, application, instruction or communication that is received by the Bank through, or in connection with, i-banking Service.

"i-banking Service" means any electronic or internet banking services from time to time supplied by the Bank, which enable me/us to give instructions to the Bank and/or obtain information from the Bank through internet at such website or portal as designated by the Bank from time to time or through such other means as the Bank may from time to time prescribe.

"Representative" means the person that I/we have authorised to have access to, and/or use, i-banking Service on my/our behalf, and shall include any authorized person appointed by me/us to act on my/our behalf in relation to i-banking Service.

"Security Code" means any password, code or number, or any other identification whether issued to me/us or to any Representative by the Bank or adopted or self-selected by me/us or by any Representative (including any login ID), for access and/or use of i-banking Service.

Transaction " means a transaction effected by the Bank pursuant to, or in connection with, an i-banking Instruction.

1.2 Clause headings are inserted for convenience only and shall be ignored in construing these Terms and Conditions.

1.3 Unless the context otherwise requires, words importing the singular include the plural and vice versa and any gender includes all genders. Any reference in these Terms and Conditions to a "person" includes an individual, a company, sole proprietorship, partnership, trust or body unincorporated.

1.4 Any references in these Terms and Conditions to "including" or "include" means including or includes without limitation.

2. Scope of Service, Limits on Amounts and Cut-off Time

2.1 The scope and types of service made available by the Bank, the applicable restrictions and transaction limits, the cut-off time and date applicable to a particular type of service, the applicable service fees and other features in respect of the i-banking Service will be determined by the Bank from time to time at its absolute discretion.

2.2 The Bank is entitled at any time, without any further verifications, to act on i-banking Instructions for:-

my/our applications for any new service, product, account, loan or other facility from time to time provided by the Bank;

effecting any transfer of funds for me/us or for effecting any other transactions for me/us in relation to any service, product, account, loan or other facility provided to me/us by the Bank or for entering into any transactions between the Bank and me/us;

providing any information, statements, reports to me/us regarding any service, product, account, loan or other facility provided by the Bank and for handling my/our transaction relating to any such service, product, account, loan or facility.

2.3 Any transaction or other dealing effected after the daily cut-off time in Hong Kong or on a non-Business Day may be treated for value on the next Business Day.

2.4 The Bank may at its sole discretion add to, modify, restrict, suspend or terminate i-banking Service at any time.

3. Security Procedures

3.1 I/We shall, and shall ensure that all the Representative(s) will, keep each Security Code confidential. I/We shall be solely responsible for any accidental, intentional or unintentional disclosure to any other person. I/We should:

change the password and login ID provided by the Bank to a self-selected password and login ID in accordance with the Bank's instruction immediately upon receipt of the initial password advice from the Bank,

not disclose, or release the login ID, the password or other Security Code to any third party,

implement control measures to prevent unauthorized access to the login ID, the password or other Security Code;

not write down or record the login ID, the password or other Security Code without disguising it, and

change the password, the login ID and other Security Code on a regular basis,

and I/we shall ensure that each Representative shall comply with the aforesaid obligations.

3.2 I/We acknowledge that there are risks of any Security Code being abused by the Representative(s) or any other persons or for unauthorized purposes and I/we agree to bear all such risks. I/We shall notify the Bank, in accordance with these Terms and Conditions, upon notice or suspicion of any Security Code being disclosed to or obtained by any unauthorized person or any unauthorized instruction given or transaction effected with any Security Code. I/We shall be responsible for all transactions and dealings involving the use of any Security Code prior to the Bank receiving such notice and the Bank having a reasonable opportunity to take action in respect of such notice.

3.3 I/we understand and acknowledge that I/we may be liable for loss suffered by me/us as a result of unauthorised transactions made via the i-banking Service if I/we :-

act fraudulently or with gross negligence;

fail to take reasonable steps to keep any Security Code secure and confidential;

knowingly allow the use by others of any Security Code; or

fail to inform the Bank as soon as reasonably practicable after I/we find or believe that any Security Code has been compromised, lost or stolen or that any unauthorized transaction has been conducted.

3.4 The Bank shall have no duty to verify the identity or authority of the person giving an i-banking Instruction if the correct Security Code is used. I/We understand, acknowledge and accept that: (i) the only purpose of the Security Code(s) is to determine the authenticity and not to determine the accuracy of, nor discover errors in, any instruction or content of the information, transmitted, through i-banking Service and I/we shall be solely responsible for the duplication of any of my/our instructions and for the accuracy of the content of my/our instructions and their transmission to the Bank; (ii) that the procedure of authentication and verification through any Security Code constitutes a commercially reasonable and acceptable security procedure; and (iii) that the Bank will rely on any Security Code as if it were my/our name and signature; and (iv) that no procedure has been established to discover transmission errors or in the content of the information accessed or i-banking Instructions.

3.5 Any Security Code shall remain effective until changed by me/us and accepted by the Bank or until cancelled by the Bank.

3.6 The Bank is under no obligation or duty concerning the allocation or use of any Security Code by me/us to any person or selection of the Representative(s) by me/us. I/We acknowledge that the Bank is not obliged to ascertain the identity of any Representative(s) or to ascertain whether any Security Code is being actually used by me/us or the Representative(s) for me/us. I/We accept the sole responsibility for the security measures and all arrangements controlling the use of any Security Code.

3.7 The Bank may reject any access to i-banking Service and all requests for information or transmittal of information or instructions which do not comply with the authentication procedure as determined by the Bank from time to time. The Bank shall not incur any liability, and I/we agree to indemnify, release and hold the Bank harmless if it rejects any access, inquiry and/or instruction as herein indicated.

3.8. The Bank may at any time modify all or any of the security procedures established for i-banking Service, including, but not limited to, modification of the rules of operation, delivery of any Security Code and authentication procedures.

4. i-banking Instructions

4.1 I/We shall ensure that, at all times, each Representative has the necessary powers and authorisation required for giving i-banking Instruction. The Bank shall in no event be liable for the lack of powers of any Representative.

4.2 Any i-banking Instruction, once given, may not be amended, revoked or withdrawn without the prior consent of the Bank. Any i-banking Instruction acted on by the Bank in good faith shall be binding on me/us without the need of any further confirmation. The Bank will not further verify the authenticity of any i-banking Instruction and may treat all apparently valid i-banking Instructions received by the Bank as instructions properly authorised by me/us even if made fraudulently and even if they conflict with the terms of any other instructions or mandates given by me/us at any time concerning my/our accounts or affairs.

4.3 I/We am/are responsible for the accuracy and completeness of i-banking Instructions and for ensuring the instructions as transmitted correctly. If a dispute arises at any time in relation to the contents of any i-banking Instruction or any related Transaction, the Bank's relevant recordings shall be conclusive evidence of such contents.

4.4 The Bank will only act upon or carry out an i-banking Instruction in so far as it is practicable or reasonable for it to do so and in accordance with its regular business practices and procedures. Any i-banking Instruction received by the Bank outside the normal business hours of the Bank or on a non-Business Day may be considered to have been received by the Bank on the next Business Day.

4.5 Notwithstanding any provision in these Terms and Conditions to the contrary, the Bank may, at its sole discretion, refuse to carry out any i-banking Instruction without giving any notice or reason to me/us.

5. My/Our Undertaking

5.1 I/We shall use, and shall ensure that the Representative(s) shall use, the i-banking Service in accordance with these Terms and Conditions and the operation policies, procedures and guides relating to i-banking Service provided by the Bank from time to time.

5.2 I/We undertake not to tamper with, modify, decompile, reverse engineer or otherwise alter or gain unauthorized access to any part of i-banking Service or the Bank's website or any of the software comprised in them. The Bank is entitled to terminate the use of i-banking Service by me/us without notice and to take legal action against me/us for breach of this undertaking.

5.3 I/We shall notify the Bank as soon as I/we or any Representative(s) encounter any irregularity or difficulty in using i-banking Service.

5.4 Once it has come to my/our attention that the Security Code has become lost or stolen or otherwise compromised, or that the i-banking Service may, for whatever reason, be liable to misuse, I/we must immediately notify the Bank, such notification to be confirmed in writing within three days. Unless the bank receives effective notification as outlined above, I/we may be liable in respect of any use of and/or transactions made via i-banking Service as a result. I/We will cooperate fully with the Bank in its investigation into the circumstances of the loss, theft or misuse of Security Code, including to provide the Bank all relevant information as to the circumstances of the loss, theft or misuse of Security Code and take all steps deemed necessary by the Bank to assist the Bank in relation to these matters. In the event of any such loss, theft or misuse whether actual or as suspected by the Bank, the Bank may provide the police with any information it considers relevant.

6. Technical Requirements

6.1 I/We must, at my/our sole cost and responsibility, ensure that the equipment used to access i-banking Service is reliable, compatible and meets the minimum specifications required for the purpose.

6.2 It is my/our sole responsibility to maintain, update and, eventually, modify the equipment in accordance with any technical requirements which may be introduced in the future.

7. Rate information inquiry

Any exchange rate, loan rate or interest rate quoted by the Bank in the course of providing i-banking Service is for reference only and is not binding on the Bank unless confirmed by the Bank. Such confirmed exchange rate, loan rate or interest rate, if accepted by me/us through i-banking Service, shall be binding on me/us notwithstanding that a different exchange rate, loan rate or interest rate might have been quoted by the Bank at the relevant time through other means of communication.

8. Recordings, records and reference numbers

The Bank is authorized to record by any means all i-banking Instructions between the Bank and me/us or any person acting on my/our behalf, and to keep those recordings for as long as the Bank considers necessary.

9. Interruption of the system

9.1 The Bank shall always have the right to, at its sole discretion and without notice, where considered necessary or advisable to do so, suspend and or temporarily cancel:

my/our access to i-banking Service;

my/our access to and use of any services provided by the Bank if the Bank discovers any irregularity and / or in order to carry out any works for updating or maintaining a quality service, increasing security or data processing.

The Bank will not reactivate any such services until the reasons for such suspension have effectively been overcome to the satisfaction of the Bank.

9.2 The Bank shall not be responsible for any direct or indirect loss or damage (including, but not limited to, damage to my/our data, software, and computer hardware or telecommunications equipment) caused directly or indirectly by my/our use of i-banking Service or the information provided through i-banking Service. In no event will the Bank be responsible for costs, damages, losses, expenses or liabilities of any kind whatsoever which may arise or allegedly arise in relation to i-banking Service, or in relation to any failure, error, omission, interruption, defect, delay in the operation, transmission or receipt, computer virus or failure of the systems or lines, except caused by the negligence or wilful default of the Bank.

9.3 The Bank disclaims all conditions, warranties or other terms whether expressed or implied by statute, custom or usage relating to the information contained in or omitted from i-banking Service.

10. Suspension or termination of service

10.1 The Bank may suspend or terminate i-banking Service upon closure of my/our accounts, services or otherwise. Suspension or termination by me/us of i-banking Service shall be effective only after written notice of such suspension or termination has been given to the Bank and the Bank has a reasonable opportunity to act upon the notice.

10.2 The Bank shall not be liable for any loss or damage suffered by me/us as a result of or arising out of any voluntary or involuntary suspension or termination of i-banking Service for any reason whatsoever.

10.3 In addition, the Bank may at any time suspend i-banking Service if it receives any notification made or purportedly made by me/us or the Representative(s) in respect of the loss, theft or possible compromise of any Security Code or if I/we breach any of my/our obligations under these Terms and Conditions.

10.4 Either party may terminate i-banking Service any time by giving a thirty (30) days prior written notification the Bank may terminate i-banking Service without any notice on the grounds that if I/we breach any of my/our obligations under these Terms and Conditions.

10.5 Upon termination of i-banking Service, my/our ability to access and utilise i-banking Service will cease provided, however, each transaction or dealing that has been initiated prior to the termination date, as determined by the Bank, that has not been fully executed, will not be rescinded (unless the Bank, in its sole discretion, determines otherwise) and shall remain subject to the terms and conditions of these Terms and Conditions until fully completed.

11. Fees and Costs

11.1 I/We agree to pay such charges (if any) for the provision of i-banking Service, as the Bank shall advise me/us from time to time.

11.2 The Bank may vary its charges and the frequency and dates of payment of such charges on giving me/us not less than thirty (30) days notice. These charges are in addition to any charges for specific banking or other services the Bank might provide in response to i-banking Instructions. I/We should inform the Bank if I/we wish to receive details of the Bank's charges for particular banking or other services.

11.3 I/We authorise the Bank to debit any of my/our accounts with any charges for the provision of i-banking Service.

11.4 I/We shall pay all costs, if any, of communicating with the Bank through i-banking Service.

12. Proprietary Rights

12.1 I/We acknowledge and accept that i-banking Service, as well as all of its components, including, without limitation to, technical, literature or any other processes, software, hardware, documents and information contained in or incorporated into the same: (i) are the property of the Bank and of other interested parties (or both), including third parties from whom the Bank has obtained rights including licenses and rights to issue licenses; and (ii) constitute trademarks or copyrights. The Bank retains all proprietary right and any other right which it has, on its own or through third parties, or in the future it may have over i-banking Service, including all service elements. The Bank, at its sole discretion, may provide or make available to me/us, with or without charge to me/us, revisions, updates, and modifications to the services and to the instructional, informative or any other documents, if any, associated with i-banking Service.

12.2 I/We will not copy or duplicate on my/our own or through other persons or entities, nor will I/we allow another to copy or duplicate, all or any part of i-banking Service module, document or component without the Bank's prior written consent. I/We acknowledge and agree that I/we shall not directly or indirectly sell, lease, license, assign, transfer or otherwise charge or encumber any specification documents, templates and formats, systems or programs and any other materials, software, hardware, equipment or information, relevant to i-banking Service which are from time to time in whole or in part provided, developed and/or utilized by the Bank or by me/us in connection with i-banking Service.

12.3 The Bank has no responsibility or liability to me/us for any damages, expenses or costs which I/we may suffer or incur arising from or referable to the installation or operation of i-banking Service components (including, without limitation, any software or hardware), unless this is caused by the Bank's negligence or wilful default.

13. Limitation of liability and indemnification

13.1 I/We acknowledge there are certain security, corruption, transmission error and access availability risks associated with using internet and I/we expressly assume such risks. The Bank makes no warranty or representation as to the foregoing. I/We am/are satisfied with the adequacy and suitability of i-banking Service as a delivery mechanism for data and instructions and of the security procedures

13.2 Except as expressly set out in these Terms and Conditions, the Bank does not make any warranties concerning i-banking Service or its system, including, without limitation, any warranties on satisfactory quality, merchantability or fitness for a particular purpose.

13.3 The Bank shall not at any time incur any liability to me/us (and I/we hereby expressly waive and release any and all claims and causes of action which I/we may at any time have against the Bank) in connection with any acts, omissions or circumstances at any time arising out of or relating to these Terms and Conditions, or a transaction contemplated by these Terms and Conditions (other than any such acts or omissions amounting to negligence or wilful misconduct on the part of the Bank).

13.4 Without limiting the foregoing, the Bank: (i) shall not be obligated to accept, and shall not be liable for failing to accept, any i-banking Instruction; (ii) shall not be liable for any failures, delays, errors, claims or damages in the execution or effectuation of any transaction occasioned by the fault or negligence of any other bank or party, nor shall the Bank be liable for any other cause beyond its control; (iii) shall not be liable for any errors, defect, breakdown, deficiency, malfunction or failure in respect of the system, software or telecommunication system in relation to i-banking Service (whether belonging to or operated by the Bank or otherwise) except caused by the Bank's negligence or wilful default; (iv) shall not be liable for executing incorrect i-banking Instructions received by it; (v) shall not be liable for failing to execute instructions not received by the Bank and (vi) shall not be liable for malfunctions or capacity reduction in i-banking Service or in public communications facilities not under the Bank's control that may affect the accuracy, timeliness of or transmission of my/our instructions to the Bank or other communications with the Bank.

13.5 The Bank shall at all times be indemnified, reimbursed and held harmless by me/us from and against any and all claims, demands, causes of actions, liabilities, losses, damages, costs and expenses which may at any time be imposed upon, incurred or suffered by, or asserted against the Bank in connection with any acts, omissions or circumstances arising out of or relating to these Terms and Conditions, or any breach by me/us of these Terms and Conditions, or any other matter or transaction contemplated by these Terms and Conditions (other than any such acts or omissions amounting to gross negligence or wilful misconduct on the part of the Bank).

14. Other Banking Agreements with the Bank

14.1 I/We agree that the Bank is entitled to rely on the i-banking Instruction, notwithstanding anything to the contrary contained in any other agreements or contracts between the Bank and me/us in relation to my/our accounts or the banking facilities and/or services provided to me/us by the Bank ("Other Banking Agreements"). Any references in the Other Banking Agreements to instructions, notifications or other communications between me/us and the Bank which are stated to be made in writing may be satisfied by an electronic communication made in accordance to these Terms and Conditions in the context of i-banking Service.

14.2 Unless otherwise specified in these Terms and Conditions, each transaction to be effected pursuant to an i-banking Instruction shall also be subject to the terms and conditions of the applicable Other Banking Agreement(s). I/We shall ensure that the proposed transaction shall comply with the terms and conditions of the applicable Other Banking Agreement(s) prior to giving i-banking Instruction to the Bank.

14.3 I/we understand that the Bank may from time to time introduce supplementary terms to these Terms and Conditions of which I/we will be notified.

15. Other Information

The Bank does not warrant or represent that the information provided through i-banking Service is accurate, sufficient, up-to-date or error free. Some of the information available through i-banking Service may be identified on the screens or in any user guide in respect of any electronic media as subject to a disclaimer or other provisions. If I/we rely on that information, I/we do so subject to the disclaimer or those provisions.

16. Miscellaneous

16.1 The Bank may at any time amend or vary any provision of these Terms and Conditions by giving prior written notice to me/us in accordance with the requirements of applicable codes and guidelines.

16.2 No act, omission or delay by the Bank shall be a waiver of the Bank's rights or remedies under these Terms and Conditions unless otherwise agreed in writing by the Bank.

17. Rights of Third Parties

Except as otherwise expressly stated in these Terms and Conditions, no one other than a party to these Terms and Conditions may enforce any of its terms under the Contracts (Rights of Third Parties) Ordinance, Cap. 623 of the Laws of Hong Kong. Where any clause of these Terms and Conditions entitles any third party to enforce any term of these Terms and Conditions under the Contracts (Rights of Third Parties) Ordinance, the parties reserve the right to vary that term or any other term of these Terms and Conditions without the consent of that third party.

18. Law and Jurisdiction

These Terms and Conditions shall be governed by and construed in accordance with the laws of Hong Kong and the parties agree to submit to the non-exclusive jurisdiction of the Hong Kong courts.

19. Governing Version

The English version of these Terms and Conditions shall prevail wherever there is a discrepancy between the English and the Chinese versions.

(January 2016)


Terms and Conditions for eStatement and eAdvice Service


These Terms and Conditions are a set of Specific Terms and Conditions referred to in the General Terms and Conditions which I/We have agreed to be bound by. I/We may from time to time use the eStatement and eAdvice Service (the “Service”) supplied by China CITIC Bank International Limited (the “Bank”), and agree that the Service will be subject to these Terms and Conditions, the General Terms and Conditions, Terms and Conditions for i-banking Service and such other terms as may be agreed between me/us and the Bank in relation thereto. I/We can review the most current version of these Terms and Conditions, the General Terms and Conditions, Terms and Conditions for i-banking Service at any time on the website of the Bank at www.cncbinternational.com.

1. Definitions and Interpretation

1.1 In these Terms and Conditions, the following words and expressions shall have the following meanings:

(a) “Account” means an account maintained by me/us with the Bank;

(b) “Advice” means any advice, report, confirmation, receipt, record, acknowledgement, notice, message or communication issued or made available by the Bank from time to time in paper form in relation to any Account, service or product offered by the Bank, and excludes a Statement;

(c) “eAdvice” means an Advice issued or made available by the Bank from time to time in electronic form under the Service;

(d) “eCorrespondence” means an eStatement or an eAdvice (or both).

(e) “eStatement” means a Statement issued or made available by the Bank from time to time in electronic form under the Service;

(f) “Hong Kong” means the Hong Kong Special Administrative Regions of the People’s Republic of China;

(g) “i-banking Service” means any electronic or internet banking services from time to time supplied by the Bank, which enable me/us to give instructions to the Bank and/or obtain information from the Bank through internet at such website or portal as designated by the Bank from time to time or through such other means as the Bank may from time to time prescribe;

(h) “Service” means the eStatement and eAdvice service which the Bank may provide pursuant to these Terms and Conditions;

(i) “Statement” means any statement issued or made available by the Bank from time to time in paper form in relation to my/our Account, service or product offered by the Bank and excludes an Advice; and

(j) “Telecommunications Equipment” includes mobile telephones, laptop computers, desktop personal computers, pocket personal computers, personal digital assistants and any other electronic media or equipment.

2. Scopes of the Service

2.1 I/We should have an i-banking Service with the Bank. I/We may use the Telecommunications Equipment, telecommunications service provider and computer software that is capable of receiving and reading the eCorrespondence, as accepted by the Bank from time to time.

2.2 The eCorrespondence will be provided to me/us by placing it in my/our i-banking Service as determined by the Bank from time to time.

2.3 Where an eCorrespondence is placed in my/our i-banking Service, the Bank has no obligation but may notify me/us that the latest eCorrespondence has been made available by sending a message to my/our mobile of one number or email address (or both) on the record. I/We should ensure the email address and mobile phone number on the Bank’s record are at all times valid, up-to-date and capable of receiving the eCorrespondence and any other messages from the Bank.

2.4 Upon successful subscription to this Service, I/We understand and agree that the Bank will no longer provide the corresponding Statement or Advice in paper form. At my/our request, the Bank may at its discretion but not obliged to provide the corresponding Statement or Advice in paper form. The Bank has the right to charge a fee for providing the corresponding Statement or Advice to me/us.

2.5 I/We agree to review and check my/our i-banking Service for eCorrespondence regularly and/or upon receiving the message notifying me/us the availability of eCorrespondence in my/our i-banking Services. I/We will advise the Bank promptly of any error, omission, discrepancy, unauthorized debit or irregularity in the entries or transactions shown in each eCorrespondence, whether caused by forged signature or other forgery, fraud, lack of authority or negligence of any person. I/We should notify the above error, omission, discrepancy, unauthorized debit or irregularity within 60 days (where the eStatement is a credit card eStatement) or within 90 days for all other eStatements. I/We understand if the Bank does not receive any such notice within the specified period, the eCorrespondence will be considered as correct, conclusive and binding.

2.6 I//We understand that an eCorrespondence placed in my/our i-banking Service will only be available for a limited period as determined by the Bank from time to time. The Bank will periodically remove past eCorrespondence from my/our i-banking Service even if I/We have not reviewed, accessed or saved them. I/We confirm that I/We will save the eCorrespondence in my/our own computer storage or print a hard copy of the eCorrespondence for future reference.

2.7 I/We understand that an eCorrespondence placed in my/our i-banking Service will be considered as having been delivered to me/us at the time it is placed in my/our i-banking Service according to the Bank’s record.

2.8 I/We confirm that all information provided to the Bank for the purpose of or in connection with the Service is complete, accurate and up-to-date at all relevant times. I/We agree to notify the Bank promptly of any change in the information.

2.9 Where an Account is in the name of two or more persons, by using the Service, any of those persons may access the Service singly even if I/We have specified to the Bank a different signing arrangement for the Account, and each of us will be bound by these Terms and Conditions.

2.10 The Bank from time to time is entitled to modify, expand or reduce the scope and features of the Services with or without notice to me/us. In particular, the Bank may from time to time determine, add to or delete from the Service the types of Advices and Statement which will be offered as eAdvices or eStatements, and the manner in which such eCorrespondence will be provided.

3. Security

3.1 I/We understand and accept all possible risks involved in how the Service is provided. Such risks may include that eCorrespondence may be intercepted, monitored, amended, tampered with or disclosed to other parties without my/our authorization.

3.2 I/We are responsible for the security of my/our Telecommunications Equipment. I/We must take all reasonable precautions to prevent anyone else from accessing any confidential information including the eCorrespondence sent to my/our Telecommunications Equipment.

3.3 I/We should never provide my/our account or personal data on screen following a website address or hyperlink from an eCorrespondence. All website addresses and hyperlinks authorized by the Bank are for my/our information only and the Bank will not require me/us to provide data in that manner.

3.4 I/We should check the email address or website address of the sender of the eCorrespondence to ensure that the eCorrespondence is genuine and sent by the Bank.

3.5 I/We must notify the Bank promptly and in such manner as the Bank may accept from time to time if I/We fail to receive the message as mentioned in section 2.3; fail to receive, access or view any eCorrespondence; or there is any delay in or any other problem with the receiving, accessing or viewing any eCorrespondence from the Bank.

4. Limitation of Liability and Indemnification

4.1 The Bank is not liable for loss, damage or expense of any kind which I/We may incur or suffer arising from or in connection with the following: (a) any failure or delay in providing the eCorrespondence for any reason (including as a result of failure or error of any computer or electronic system or equipment); (b) any error or omission in the eCorrespondence; (c) any disclosure of confidential information; (d) any loss or damage to my/our data, software, telecommunication equipment or other equipment arising from or in connection with my/our use of the Service; and (e) any suspension or termination of the Service under any other circumstances.

4.2 The Bank is not liable for any loss, costs or damage of any kind incurred or suffered by me/us as a result of any interruption, delay or failure (whether total or partial) in providing the Service to me/us to the extent that it is attributable to any cause or circumstance that is beyond its reasonable control or the reasonable control of its agents or nominees (other than any such acts or omissions amounting to negligence or willful misconduct on the part of the Bank).

4.3 I/We acknowledge there are certain security, corruption, transmission error and access availability risks associated with using the Service and I/we expressly assume such risks. The Bank makes no warranty or representation as to the foregoing.

4.4 The Bank shall at all times be indemnified, reimbursed and held harmless by me/us from and against any and all claims, demands, causes of actions, liabilities, losses, damages, costs and expense which may at any time be imposed upon, incurred or suffered by, or asserted against the Bank in connection with any acts, omissions or circumstances arising out of or relating to these Terms and Conditions, or any breach by me/us of these Terms and Conditions, or any other matter or transaction contemplated by these Terms and Conditions (other than any such acts or omissions amounting to negligence or willful misconduct on the part of the Bank)

4.5 The Bank does not warrant or represent that the eCorrespondence provided through i-banking Service is accurate, sufficient, up-to-date or error free. Some of the eCorrespondence available through i-banking Service may be identified on the screens or in any user guide in respect of any electronic media as subject to a disclaimer or other provisions. If I/We rely on that eCorrespondence, I/We do so subject to the disclaimer or those provisions.

5. Suspension or Termination of Service

5.1 The Bank reserves the right at any time and from time to time to modify, suspend or discontinue, temporarily or permanently, the Service (or any part thereof) for any reason without notice. In particular, the Bank will terminate the Services upon termination of the iBanking Services by me/us.

5.2 Suspension or termination by me/us of the Service shall be effective only after written notice of such suspension or termination has been given to the Bank and the Bank has a reasonable opportunity to act upon the notice.

5.3 Either party may terminate the Service any time by giving a thirty (30) days prior written notification the Bank may terminate the Service without any notice on the grounds that if I/we breach any of my/our obligations under these Terms and Conditions.

5.4 Any suspension or termination of the Service does not affect the liabilities and rights between the Bank and me/us respectively before the date of suspension or termination.

6. Fees and Costs

6.1 I/We agree to pay such charges (if any) for the provision of the Service, as the Bank shall advise me/us from time to time.

6.2 The Bank may vary its charges and the frequency and dates of payment of such charges on giving me/us not less than thirty (30) days notice.

6.3 I/We authorize the Bank to debit any of my/our accounts with any charges, if any, for the provisions of this Service.

7. Miscellaneous

7.1 The Bank at any time has the right to amend or vary any provisions of these Terms and Conditions (including any fees and charges) by giving prior written notice to me/us in accordance with the requirements of applicable codes and guidelines. I/We will be bound be a variation unless the Bank has received notice to terminate the Service with effect before the date on which that variation takes effect.

7.2 No act, omission or delay by the Bank shall be a waiver of the Bank’s right or remedy under these Terms and Conditions unless otherwise agreed in writing by the Bank.

8. Rights of Third Party

8.1 Except as otherwise expressly stated in these Terms and Conditions, no one other than a party to these Terms and Conditions may enforce any of its terms under the Contracts (Rights of Third Parties) Ordinance, Cap. 623 of the Laws of Hong Kong. Where any clause of these Terms and Conditions entitles any third party to enforce any term of these Terms and Conditions under the Contracts (Rights of Third Parties) Ordinance, the parties reserve the right to vary that term or any other term of these Terms and Conditions without the consent of that third party.

9. Law and Jurisdiction

9.1 These Terms and Conditions shall be governed by and construed in accordance with the laws of Hong Kong and the parties agree to submit to the non-exclusive jurisdiction of the Hong Kong courts.

10. Governing Version

10.1 The English version of these Terms and Conditions shall prevail wherever there is a discrepancy between the English and the Chinese versions.

(June 2017) 


Risks and Important Notes for eStatement and eAdvice Service


Risks for e-Statement and e-Advice service

1. Appropriate computer equipment and software, internet access and a specific email address provided and designated by the customer are required for using the Bank’s e-Statement/ e-Advice service

2. Internet and email services may be subject to certain IT risks and disruption. Customer need to understand and accept all possible risks involved in how the e-Statement/ e-Advice service is provided. Such risks may include that eCorrespondence may be intercepted, monitored, amended, tampered with or disclosed to other parties without customer's authorization.

3. The customer may incur additional costs for using the Bank’s e-Statement/ e-Advice service

4. Email will be the customer’s only notice that the advices and statements that are supported by e-Statement/ e-Advice service have been posted on the Bank’s website, and the customer should check his/her designated email address regularly for such notice.

5. Revocation of consent to the Bank’s e-Statement/ e-Advice service will be subject to the giving of such advance notice by the customer as the Bank may reasonably require.

6. The customer may be required to pay a reasonable charge for obtaining a hard copy of any Bank’s e-Statement/ e-Advice that is no longer available for access and downloading through the Bank’s website.

Important Notes for e-Statement and e-Advice service

1. Email notification will be sent to you on the day of e-Statement/ e-Advice delivery to you designated email address maintained in our Bank’s record. Please keep the Bank informed of your current email address to ensure you can receive such email notification.

2. Customer should promptly review the e-Statement/ e-Advice posted on the Bank’s website upon receiving the email notification from the Bank to ensure that any errors are detected and reported to the Bank as soon as practicable.

(June 2017) 

Important information for One Account





General Risk Disclosure Statement and Disclaimer


I/We acknowledge and agree that:

(a) the Bank has advised me/us to read this General Risk Disclosure Statement and Disclaimer carefully. This General Risk Disclosure Statement and Disclaimer forms an integral part of these Terms and Conditions;

(b) the Bank has explained this General Risk Disclosure Statement and Disclaimer to me/us and I/we have read and fully understand the same;

(c) the Bank has recommended me/us to obtain independent legal advice before entering into these Terms and Conditions with the Bank;

(d) this General Risk Disclosure Statement and Disclaimer does not purport to disclose or discuss all of the general risks and other significant aspects of any transaction.  I/We should therefore consult my/our own independent legal, tax and financial advisers prior to entering into any particular transaction.  It is important for me/us to determine whether any transaction is suitable to me/us and I/we should be aware that this is my/our responsibility; and 

(e) additional risk factors in relation to Investments may be set out in the relevant Offering Documents. I/We should carefully read, understand and consider the risk factors in the Offering Documents before making any investment in the Investments.

Unless otherwise defined, capitalized terms used in this General Risk Disclosure Statement and Disclaimer shall have the same meanings given to them in other Parts.

Section A: Risk Disclosure Statements relating to the Services provided under One Account

1. General Risks

1.1 Investment involves risks. Past performance of investment products are no guide to future performance. The value of investments and the income from them can fluctuate and is not guaranteed. I/we may not get back the amount invest and the worst case will result in loss of the my/our entire investments. Leveraged products may involve the potential to lose more than the entire amount of the my/our investment.

1.2 Investments are not appropriate for me/us unless the I am/we are willing or able to accept the risk of adverse movements in the value of investment products and currency exchange rates.

1.3 Prior to entering into any Transaction, I/we should familiarize myself/ourselves with all relevant materials including any Offering Document that has been provided to me/us by the Bank which set out material terms, associated obligations, underlying assumptions, pricing basis, product specific risk factors and other relevant information regarding Transactions which the Customer proposes to enter into.

1.4 I/We should carefully study and understand the risks involved and consider whether entering into a Transaction is suitable in the light of my/our financial position, experience and investments objectives.

1.5 I/We should ensure that I/we fully understands the terms of the investments and any risks involved, and I/we accept any and all risks in connection therewith. I/We have been fully advised to make independent assessment of the risks associated with the entering into of Transactions and the Customer shall seek independent appraisal and/or advice if I am/we are uncertain of or have not understood the product features of any of the investments, any aspect of these risk disclosure statements or the nature of risks involved in making investments, and notwithstanding any materials or information which may be provided by the Bank to the Customer in relation to any investment product, I/we shall consider whether it is a suitable investment.

2. Risk of Investment

The prices of any investment may fluctuate, sometimes dramatically. The price of an investment may move up or down, and may become valueless as it is likely that losses will be incurred rather than profit made as a result of buying and selling investment product.

3. Risk of Online Trading

Transactions over the Internet may be subject to interruption, transmission blackout, delayed transmission due to Internet traffic or incorrect data transmission due to the public nature of the Internet. There may also be a time lag in transmission of information, instruction and communication via the Internet. This may subject instructions to non-execution, delays or error in execution or execution at prices different from those indicated on the Internet.

4. Risk of Client Assets Received or Held Outside Hong Kong

Client assets received or held by the Bank outside Hong Kong are subject to the applicable laws and regulations of the relevant overseas jurisdiction which may be different from those in Hong Kong (including the Securities and Futures Ordinance and the rules made thereunder). Consequently, such client assets may not enjoy the same protection as that conferred on client assets received or held in Hong Kong.

5. Currency Risk

The profit or loss in transactions in foreign currency-denominated contracts (whether they are traded in my/our own or another jurisdiction) will be affected by fluctuations in currency rates where there is a need to convert from the currency denomination of the contract to another currency.

6. Risk of Providing an Authority to Direct Mails to Third Parties

If I/we provide the Bank with an authority to direct mail to third parties, it is important for me/us to promptly collect in person all contract notes and statements of my/our account and review them in detail to ensure that any anomalies or mistakes can be detected in a timely fashion.

7. Liquidity and Marketability Risks

I/We acknowledge and agrees that at certain times or under certain market conditions, I/we may find it difficult or impossible to liquidate a position, to assess value or to determine a fair price. Certain equity or debt Securities and money market instruments and, in particular, structured notes or customized products may not be readily realizable or marketable. There can be no certainty that market traders will be prepared to deal in them, and I/we should be aware that proper information for determining my/our current value may not be available.

8. Counterparty Issuer and Credit Risk

8.1 I/We should ensure that it is aware of the identity of, and finds acceptable, the contractual counterparty with whom I/we may be matched. As I/we will often be purchasing an unsecured obligation of the counterparty (as opposed to an obligation of a central clearing corporation in the case with exchange traded futures and options), I/we should evaluate the comparative credit risk.

8.2 Where I/we purchases a debt instrument, such as a note or a bond, I/we takes the credit risk of both its contractual counterparty as well as the issuer of the debt instrument. I/We should be aware that, depending on the product, the capital protection component of a product can be well under 100% of the capital invested and that capital protection does not mean 100% repayment of the purchase price of every product. Where the redemption price of a product is indicated at 100% (100% capital protection), it should be noted that this represents no guarantee by the issuer or the Bank that 100% of the purchase price of the product will be paid out at maturity. Capital protection only protects me/us from the downside-risk of the Transaction itself but not from the credit risk of the counterparty and the issuer.

8.3 If the Bank deals with me/us as counterparty, the Bank will deal with me/us at arms-length. At no time will the Bank be acting as a fiduciary of me/us nor will the Bank accept any fiduciary obligation to me/us. As a counterparty of the Bank, any loss to me/us may be a gain to the Bank.

9. Deposited Property and Cash

I/We should also be familiar or familiarize myself/ourselves with the protections accorded to money or other property that I/we deposit for domestic and foreign Transactions, particularly in the event of an insolvency or bankruptcy of the issuer, guarantor (if applicable), custodian or intermediary. The extent to which I/we may recover my/our money or property may be governed by local rules and regulations. In some jurisdictions, property which had been specifically identifiable as my/our own will be pro-rated in the same manner as cash for purposes of distribution in the event of a shortfall.

10. Transaction Costs

Before making any Transaction or investments, I/we should obtain a clear explanation of all commissions, fees and other charges for which I/we will be liable. My/our net returns from any Transaction or investments would also be affected by the Transaction costs (i.e. commission, fees and other charges) charged by the Bank or third parties and any relevant tax liabilities. These costs must be considered in any risk assessment made by me/us. In some cases, managed Accounts may be subject to substantial charges for management and advisory fees. It may be necessary for those Accounts that are subject to these charges to make substantial trading profits to avoid depletion or exhaustion of their assets.

11. Liquidity Risk / Early Withdrawal Risk / Cancellation Risk

Any cancellation or withdrawal prior to maturity is subject to the consent of the Bank and/ or a relevant third party (as may be applicable). With these risks, investors may incur significant costs or losses.

12. Early Redemption or Termination Risk

I/We should be aware that it may be a general condition of the investment products that the issuer may, at its discretion, redeem or terminate the investments prior to maturity upon notice to investors under a variety of conditions and/ or circumstances set forth in the issuer’s Offering Document, and such redemption may be less or substantially less than its investment amount.

13. Tax risks

Before entering into any Transaction, I/we should understand the tax implications (including the implications of any applicable income tax, goods and services or valued added taxes, stamp duties and other taxes) of acquiring, entering into, holding and disposing of the relevant investments or Transaction. Different Transactions may have different tax implications. The tax implications of any Transaction are dependent upon the nature of my/our business activities and the Transaction in question. I/We should, therefore, consult my/our independent tax adviser to understand the relevant tax considerations.

Section B: Risk Disclosure Statements relating to Securities Trading

1. Risk of Trading Growth Enterprise Market Stocks

Growth Enterprise Market (GEM) stocks involve a high investment risk. In particular, companies may list on GEM with neither a track record of profitability nor any obligation to forecast future profitability. GEM stocks may be very volatile and illiquid.

The decision to invest should be made only after due and careful consideration. The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated investors.

Current information on GEM stocks may only be found on the internet website operated by The Stock Exchange of Hong Kong Limited. GEM companies are usually not required to issue paid announcements in gazetted newspapers.

I/We should seek independent professional advice if I am/we are uncertain of or have not understood any aspect of this risk disclosure statement or the nature and risks involved in trading of GEM stocks.

2. Risk of Trading Nasdaq-Amex Securities at the Stock Exchange of Hong Kong Limited

The securities under the Nasdaq-Amex Pilot Program (PP) are aimed at sophisticated investors. I/We should consult the Bank and become familiarized with the PP before trading in the PP securities. I/We should be aware that the PP securities are not regulated as a primary or secondary listing on the Main Board or the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited.

Section C: Risk Disclosure Statements relating to Foreign Securities Trading

1. Foreign Securities may carry additional risk not generally associated with Securities in the domestic market. I/We may not be afforded equivalent protection in respect of Foreign Securities as that afforded under Hong Kong law and I/we may not have the same rights as I/we have in respect of Securities held in Hong Kong. The value or income of foreign Securities may be more volatile and could be adverse affected by changes in currency rates of exchange, foreign taxation practices, foreign laws, government practices, regulations and political events. I/We should only undertake trading of Foreign Securities if I/we understand the nature Foreign Securities trading and the extent of my/our exposure to risks. I/We should carefully consider whether such trading is appropriate for me/us in light of my/our experience, risk profile and other relevant circumstances and seek independent advice.

2. I/We may find it difficult to liquidate investments in Foreign Securities where they have limited liquidity in the relevant market.  Foreign laws, government practices and regulations may also affect the transferability of Foreign Securities or may differ from or offer less investor protection than domestic market. Timely and reliable information about the value or the extent of the risks of Foreign Securities may not be readily available at all times.

Section D: Risk Disclosure Statements relating to Bonds Trading

1. There may be risks in leaving Bonds in the Bank’s safekeeping.

2. The Bonds may not be capital protected by the issuer (depends on the selected tranches and reference should be made to the corresponding prospectus for details) and there may be circumstances that the money and/or value of shares that receiving at maturity may be substantially less than the value of my/our original investment. If there is any fractional share(s), it/they may not be physically delivered.

3. In situations where any Bond is a product combining note with financial derivatives, such as options, I/we understand that its return may he linked to the performance of other financial instruments, e.g. underlying stocks / companies / indices, etc. Unless such Bond is listed on The Stock Exchange of Hong Kong Limited, I/we have to sell such Bond on the over-the-counter market. The prices of such Bond in secondary markets are affected by a wide range of factors, including the performance of the underlying stocks / companies / indices, the market view of the credit quality of the reference company, interest rates, etc. I/We understand that secondary markets do not always exist and accept any associated liquidity risk. Transactions in options carry a high degree of risk. Purchasers and sellers of options should familiarize themselves with the type of option (i.e. put or call) which they contemplate trading and the associated risks.

Section E: Risk Disclosure Statements relating to investments in Asset Linked Investment Products

1. I/We understand and accept that the asset linked investments may not be capital protected by the issuer and there are circumstances that the value of underlying asset(s) that I/we receive at maturity may be substantially less than the value of my/our original investment. If there is any fractional unit(s), it/they may not be physically delivered.

2. I/We understand that asset linked investments are generally products combining notes with financial derivatives, such as options. Their returns are linked to the performance of other financial instruments, e.g. underlying stocks/companies/indices, etc. Unless the asset linked investments are listed on The Stock Exchange of Hong Kong Limited, I/we have to sell my/our asset linked investments on the over-the-counter market. The prices of asset linked investments in secondary markets are affected by a wide range of factors, including the performance of the underlying stocks /companies /indices. I/We understand that secondary markets do not always exist and accept any associated liquidity risk. Transactions in options carry a high degree of risk. Purchasers and sellers of options should familiarize themselves with the type of option (i.e. put or call) which they contemplate trading and the associated risks.

3. The liquidity of Asset-Linked Investment Products is not guaranteed as there is no liquid trading market and selling back Asset-Linked Investment Products may not necessarily avoid losses. Past performance of an Asset-Linked Investment Product and/ or the relevant Underlying Asset(s) may not be indicative of their respective future performance. I/We should refer to the Offering Documents (including the risk factors stated therein) and the relevant risk disclosure statement before making any investments decision. Investors who purchase Asset-Linked Investment Products are relying upon the creditworthiness of the Asset-Linked Investment Product issuer and/ or guarantor (if applicable).

4. The trading price of Asset-Linked Investment Products (where tradable at all) may fluctuate depending on factors such as market interest rate movements, foreign exchange rates, the price of the Underlying Assets which are linked to the products, and the market for similar Underlying Assets. Also, the price could be affected if there are only very few potential buyers in the market. With Asset-Linked Investment Products, if the issuer has to redeem the products unexpectedly, I/we could lose part, and possibly all, of my/our investments. The amount that the issuer will be able to pay back on the products may be less, and could be substantially less, than the principal amount of the Asset-Linked Investment Products. It is conceivable that I/we could lose all of my/our investments.

5. A structured or over-the-counter transaction generally cannot be assigned or transferred without the consent of the other party. The Bank is not obliged to repurchase a transaction from me/us or terminate a Transaction at my/our request. Since Transactions are customized and not fungible, engaging in a transaction with another dealer to offset a transaction I/we have entered into with the Bank will not automatically close out those positions (unlike the case of equivalent exchange-traded futures and options) and will not necessarily function as a perfect hedge. Off-exchange Transactions may also be less regulated or subject to a separate regulatory regime. Before undertaking such Transactions, I/we should be familiar or familiarize myself/ourselves with the applicable rules and attendant risks.

6. If I/we try to sell his/her products before maturity, I/we may receive an offer which is less than the amount invested in or I/we may not be able to sell my/our products.

Section F: Risk Disclosure Statements relating to Currency-linked Deposits

1. The high yield of Currency-Linked Deposit is effectively the sum of the interest received from the time deposit and the premium from writing a currency option with inherent risks.

2. Currency-Linked Deposit is not a traditional time deposit or its substitute and provides no guarantee of return or yield on investment.  The net return in relation to Currency-Linked Deposit will depend on market conditions prevailing at the Fixing Time on the Fixing Date.

3. The Linked Currency received may be subject to currency devaluation risk. The loss due to currency devaluation may offset the interest earned on the Currency-Linked Deposit and may even result in significant losses in the principal amount of the deposit.  There is a risk that losses may be incurred rather than profit made as a result of establishing any Currency-Linked Deposit.

4. The return on a Currency-Linked Deposit is limited to the interest payment thereon.  This is the case even if my/our view of the exchange rate movement of the currencies concerned is correct.

5. I/We have no right or ability to designate an early deposit maturity date in respect of any Currency-Linked Deposit.

Section G: Risk Disclosure Statements and Other Information relating to China Connect

This Section describes some of the key risk factors and other information concerning China Connect. This Section does not disclose all the risks and other significant aspects of Northbound trading through China Connect. I/we acknowledge that I/we understand the nature and risks of China Connect and Northbound trading and I/we should consider carefully (and consult my/our own advisers where necessary) whether trading in China Connect Securities is suitable for me/us in light of my/our circumstances. The decision to trade in China Connect Securities is mine/ours, but I/we should not trade in China Connect Securities unless I/we fully understand and am/are willing to assume the risks associated with China Connect and am/are able to comply with all relevant China Connect Laws and China Connect Rules. I/We acknowledge the risks and agree to the terms set out in this Section. I am/We are responsible for monitoring changes in the China Connect Laws and China Connect Rules and complying with any new requirements.

The Bank does not represent that the information set out in this Section is up to date, and does not undertake to update the information set out in this Section. In addition, the Bank does not provide any warranty with respect to such information and no such information is to be construed as legal, financial or tax advice of any kind by it.

Home Market Rules

1 Home Market Rules

A fundamental principle of China Connect is that the laws and rules of the home market of the applicable securities shall apply to investors in such securities. In respect of China Connect Securities, Mainland China is the home market and thus the general principle is that investors in China Connect Securities should observe the relevant China Connect Rules and other Mainland China securities laws and regulations. If such rules and regulations are breached, the relevant China Connect Market has the power to carry out an investigation.

Nevertheless, certain Hong Kong legal and regulatory requirements will also continue to apply to Northbound trading.

Trading and Settlement Restrictions

2 Pre-Trade Checking

SEHK is required to check that in respect of any Northbound sell orders given by an Exchange Participant, the relevant Exchange Participant holds sufficient and available China Connect Securities to be able to fill such Northbound sell orders. Such Pre-Trade Checking will be carried out prior to the start of each Trading Day.

Accordingly, I/we may be unable to execute Northbound sell orders due to Pre-Trade Checking related requirements. My/our attention is drawn to the provisions set out in Clause 7 (Compliance with Pre-Trade Checking Requirements) of the China Connect Terms. I/We note in particular that I/we may be unable to execute a sell order of China Connect Securities if there has been a delay or failure for whatever reason in the transfer of the relevant China Connect Securities to any clearing account of the Bank or if for any other reason the Bank considers that there is or may be non-compliance with any China Connect Laws or China Connect Rules.

Any risk, loss or cost resulting from non-compliance or potential non-compliance with Pre-Trade Checking and/or the relevant China Connect Laws or China Connect Rules shall be borne by me/us.

3 Settlement

Northbound trades will follow the A Share settlement cycle. For settlement of China Connect Securities trades, ChinaClear will debit or credit the securities accounts of its participants (including HKSCC as Clearing Participant) on T day free of payment. The Bank may have settlement arrangements in place different from the ChinaClear settlement arrangements. Unless the Bank agrees to prefund settlement, settlement of funds relating to such trading will be effected on T+1 day. The Bank may, in its absolute discretion, decide to prefund settlement. In the event the Bank agrees to prefund the settlement of China Connect Securities trades, (a) the Bank shall retain the funds received from the HKSCC on T+1 day; and (b) I/we shall reimburse the Bank with respect to any 'excess' pre-funding provided by the Bank.

Although the transfer of the China Connect Securities precedes the transfer of cash, under the China Connect Service, the title to China Connect Securities will not be released until the receipt of confirmation of payment. Accordingly, for the purposes of contract notes, the settlement date would be T+1 day when both the securities and the cash are settled or, where the purchase was pre-funded, the settlement date would be the date on which the securities are released.

I/We acknowledge that there is no guarantee that the Bank will offer prefunding settlement and that if the Bank decides to offer prefunding settlement, the Bank may decide to terminate such service at any time.

4 Quota Restrictions

Purchases of China Connect Securities through China Connect are subject to certain quota controls as described below. As a result, there is no assurance that a buy order can be successfully placed through China Connect.

There is a daily quota that limits the maximum value of all Northbound buy trades in respect of each China Connect Market that can be executed by Exchange Participants on each Trading Day (“Daily Quota”). The Daily Quota may change from time to time without prior notice and investors are advised to refer to the HKEx website and other information published by the HKEx for up-to-date information.

The SEHK and the relevant China Connect Market may also set pricing and other restrictions on buy orders in order to prevent the artificial use or filling of the Daily Quota.

If there is a restriction, rejection or suspension of Northbound buying (which would include any order that has been accepted but not yet executed) as a result of a breach of the Daily Quota or the relevant pricing and other restrictions, the Bank will be unable to carry out any buy orders and any instruction to buy submitted but not yet executed will be restricted or rejected.

Conversely, under the SEHK rules, investors may sell their China Connect Securities regardless of whether there is a breach of the Daily Quota.

5 Restriction on Day Trading

Day (turnaround) trading is not permitted on the China Connect Markets. If I/we buy China Connect Securities on T day, I/we may be able to sell the shares only on or after T+1 day. Due to Pre-Trade Checking related requirements, the Bank may accept an instruction to sell China Connect Securities that were bought on T day only on or after the applicable cut-off time (as notified to me/us by the Bank from time to time) on T+1 day.

6 No off-exchange trading and transfers

I/We, the Bank and any Related Person shall not trade or provide services to facilitate trading of any China Connect Securities otherwise than through the China Connect Market System, and the Bank shall not match, execute or arrange the execution of any sale and purchase instructions or any transfer instructions from me/us or effect any Non-trade Transfer or settlement of instructions in respect of any China Connect Securities in any manner otherwise than through China Connect in accordance with the China Connect Rules, except in the following circumstances or as otherwise provided by a relevant China Connect Authority:

(a) stock borrowing and lending of China Connect Shares which are eligible for covered short selling and with a tenor of no more than one month;

(b) stock borrowing and lending of China Connect Shares which are eligible for satisfying the Pre-Trade Checking requirement, with a tenor of one day (and which is not renewable);

(c) post-trade allocation of China Connect Securities by a fund manager across the funds and/or sub-funds it manages; and

(d) any other situations specified by the China Connect Markets and ChinaClear, including but not limited to any Non-trade Transfer as a result or for the purpose of (a) succession; (b) divorce; (c) dissolution, liquidation or winding up of any company or corporation; (d) donation to a charitable foundation; and (e) assisting in any enforcement action or proceedings of any court, prosecutor or law enforcement agency.

7 Placing Orders

Only limit orders with a specified price are allowed pursuant to China Connect Laws and China Connect Rules, whereby buy orders must not be lower than at the current best price and sell orders may be executed at or higher than the specified price. Market orders will not be accepted.

8 China Connect Market Price Limits

China Connect Securities are subject to a general price limit of a ±10% based on the previous Trading Day’s closing price. In addition, China Connect Securities which are on the risk alert board are subject a ±5% price limit based on the previous trading day’s closing price. The price limit may be changed from time to time. All orders in respect of China Connect Securities must be within the price limit. Any orders with a price beyond the price limit will be rejected by the relevant China Connect Market.

9 Delisting of companies listed on the China Connect Markets

According to the SSE Rules and the SZSE Rules, if any company listed on a China Connect Market (other than a company listed on the ChiNext Board) is in the delisting process, or its operation is unstable due to financial or other reasons such that there is a risk of being delisted or exposing investors’ interests to undue damage, such listed company will be earmarked and traded on the risk alert board. Any change to the risk alert board may occur without prior notice. If a China Connect Security which is eligible for China Connect trading is subsequently moved to the risk alert board, investors under China Connect will be allowed only to sell the relevant China Connect Security and will be prohibited from further buying. For details concerning the risk alert board, please refer to the SSE Rules, SZSE Rules and any other relevant sources from time to time.

10 Account Information of Beneficial Owner

The identity of the beneficial owner of China Connect Securities which are the subject of a sell order may need to be disclosed to HKSCC and/or relevant Mainland China authorities.

11 No Manual Trade or Block Trade

There will be no manual trade facility or block trade facility for Northbound trading under China Connect.

12 Short Selling

Covered short selling of China Connect Shares may become available in due course provided such covered short selling satisfies the requirements specified by the relevant China Connect Authorities, including that short selling orders are only in respect of China Connect Shares designated as eligible for short selling, are appropriately flagged as such and that they are subject to an uptick rule. However naked short selling of China Connect Shares is prohibited. The China Connect Authorities may also suspend the ability to engage in short selling of any China Connect Share if the volume of short selling activity exceeds thresholds prescribed by the relevant China Connect Market. I/We shall be fully responsible for understanding and complying with short selling requirements as in effect from time to time and for any consequences of non-compliance.

13 Amendment of Orders and Loss of Priority

Consistent with the current practice in Mainland China, if an investor engaged in Northbound trading wishes to amend an order, the investor must first cancel the original order and then input a new one. Accordingly, order priority will be lost and, subject to the Daily Quota balance restrictions, the subsequent order may not be filled on the same Trading Day.

14 Special China Connect Securities

SEHK will accept or designate securities which cease to meet the eligibility criteria for China Connect Securities as Special China Connect Securities (provided that they remain listed on the relevant China Connect Market). In addition, any securities or options (which are not “eligible for China Connect trading”) received by me/us as a result of any distribution of rights or entitlements, conversion, takeover, other corporate actions or abnormal trading activities will be accepted or designated by SEHK as Special China Connect Securities. I/We will only be able to sell, but not buy, any Special China Connect Securities.

Mainland China and Hong Kong Legal Issues

15 Disclosure of Interests

Under Mainland China laws, rules and regulations, if I/we hold or control shares (on an aggregate basis, i.e., including both domestically and overseas issued shares of the same Mainland China Listco (as defined below), whether the relevant holdings are through Northbound trading, QFII/RQFII regime or other investment channels) in a Mainland China incorporated company which is listed on a Mainland China stock exchange (a “Mainland China Listco”) above a certain threshold as may be specified from time to time by the relevant China Connect Authorities, I/we must disclose such interest within the period specified by the relevant China Connect Authority, and I/we must not buy or sell any such shares within the period specified by the relevant China Connect Authority. I/We must also disclose any substantial change in my/our holding as required by the relevant China Connect Authority.

Where a Mainland China incorporated company has both H Shares listed on the SEHK and A Shares listed on a China Connect Market, if an investor is interested in more than a certain threshold (as may be specified from time to time) of any class of voting shares (including A Shares purchased through China Connect) in such Mainland China incorporated company, the investor is under a duty of disclosure pursuant to Part XV of the SFO. Part XV of the SFO does not apply where the Mainland China incorporated company has not listed any shares on the SEHK.

It shall be my/our responsibility to comply with any disclosure of interest rules from time to time imposed by the relevant China Connect Authorities and arrange for any relevant filings.

16 Short Swing Profit Rule

Under Mainland China laws, rules and regulations, the “short swing profit rule” requires me/us to give up/return any profits made from purchases and sales in respect of China Connect Shares of a particular Mainland China Listco if (a) my/our shareholding in that Mainland China Listco exceeds the threshold prescribed by the relevant China Connect Authority from time to time and (b) the corresponding sale transaction occurs within the six months after a purchase transaction, or vice versa. I/We (and I/we alone) must comply with the “short swing profit rule”.

17 Foreign Ownership Limits

Under Mainland China laws, rules and regulations, there is a limit to how many shares a single foreign investor is permitted to hold in a single Mainland China Listco, and also a limit to the maximum combined holdings of A Shares of all foreign investors in a single Mainland China Listco. Such foreign ownership limits may be applied on an aggregate basis (i.e. across both domestically and overseas issued shares of the same issuer, whether the relevant holdings are through Northbound trading, QFII/RQFII regime or other investment channels). It shall be my/our responsibility to comply with all foreign ownership limits from time to time imposed by China Connect Laws and China Connect Rules. Such legal and regulatory restrictions or limitations may have an adverse effect on the liquidity and performance of an investment in China Connect Shares due to factors such as limitations on fund repatriation, dealing restrictions, adverse tax treatments, higher commission costs, regulatory reporting requirements and reliance on services of local custodians and service providers. As a result, I/we may suffer losses through my/our trading or investment in China Connect Shares.

If the Bank becomes aware that I/we have breached (or reasonably believes that I/we may breach upon execution of further Northbound buy orders) any foreign ownership limits, or if the Bank is so required by any China Connect Authority, including, without limitation, as a result of any Forced-sale Notice issued by a China Connect Market, the Bank will sell any China Connect Shares pursuant to Clause 9 (Sale, Transfer and Disgorgement) of the China Connect Terms above if I/we fail to comply with the corresponding Client Forced-sale Notice in order to ensure compliance with all China Connect Laws and China Connect Rules. In such case, no buy orders for the relevant China Connect Shares will be accepted until the relevant China Connect Market informs its corresponding SEHK Subsidiary or SEHK that the aggregate foreign shareholding has fallen below a certain percentage. SEHK may determine in its absolute discretion which Exchange Participants and what quantity of China Connect Shares should be subject to a Forced-sale Notice (this is likely to be on a “last-in, first-out” basis), and SEHK’s (or the relevant SEHK Subsidiary’s) own records shall be final and conclusive.

Moreover, under Mainland China laws, where the aggregate holdings of foreign investors exceed a specified percentage (the “Cautionary Level”) of the issued shares of a single Mainland China Listco, upon notification by the relevant China Connect Market to its corresponding SEHK Subsidiary, SEHK and the relevant SEHK Subsidiary are required as soon as practicable thereafter to suspend accepting buy orders in respect of the relevant China Connect Shares. In such circumstances, the Bank may reject my/our buy orders until the aggregate shareholding of foreign investors has fallen below the specified percentage (the “Permitted Level”) as advised by the relevant China Connect Market.

As of the date of the China Connect Terms, the single foreign investor limit is set at 10% of the shares of a Mainland China Listco and the aggregate foreign investor limit of A Share holdings is set at 30% of the shares of a Mainland China Listco (while the Cautionary Level and the Permitted Level are set at 28% and 26% respectively of the shares of a Mainland China Listco). Such limits are subject to change from time to time and the Bank shall not be under any obligation to inform me/us of any such changes to foreign ownership limits.

18 Taxation

Prior to investing in China Connect Securities, I/we understand that I am/we are strongly urged to consult my/our own tax advisers and counsel with respect to the possible Hong Kong and/or Mainland China tax consequences to me/us of such investment since such tax consequences may differ in respect of different investors.

I/We shall be fully responsible for any Taxes in respect of China Connect Securities including, without limitation, any capital gains tax or other Mainland China taxes, and will indemnify the Bank and any Related Person from and against all Hong Kong and/or Mainland China Taxes which the Bank or Related Persons may incur arising in connection with any China Connect Securities which I/we hold, trade or otherwise deal in.

The Bank assumes no responsibility for advising on or handling any tax issues, liabilities and/or obligations in connection with China Connect, nor will the Bank provide any service or assistance in this regard. Please refer to Clause 13 (Fees and Taxation) of the China Connect Terms for details of the applicable legal terms.

19 Insider Dealing, Market Manipulation and Other Market Conduct Rules

Northbound trading through the China Connect will be subject to Mainland China laws and regulations prohibiting activities that constitute market manipulation, insider dealing and related offences. The scope of these restrictions may not be the same as equivalent requirements under Hong Kong law. In particular, defences applicable under Hong Kong market misconduct rules may not be applicable under Mainland China laws and regulations. If I am/we are unfamiliar with Mainland China market conduct requirements and restrictions, I/we should seek specialist advice before engaging in trading through the China Connect. I/We confirm that I am/we are not in possession of inside information when trading China Connect Securities or procuring others to do so.

20 Client Securities Rules

By way of brief background, the Client Securities Rules prescribe how client assets are to be dealt with by all intermediaries and their associated entities. However, as the China Connect Securities traded through China Connect are not listed or traded on the SEHK, the Client Securities Rules will not apply unless otherwise specified by the SFC or any other relevant China Connect Authority.

21 Investor Compensation Fund

Trading in China Connect Securities does not enjoy the protection afforded by the Investor Compensation Fund established under the SFO. Accordingly, when I/we trade in China Connect Securities, unlike the trading of SEHK-listed securities, I/we will not be covered by the Investor Compensation Fund in respect of any loss I/we may sustain by reason of a default by SFC licensed or registered persons.

22 Ownership of China Connect Securities

Hong Kong law recognises the proprietary interest of investors in securities held for them by their broker or custodian in CCASS. Such recognition should apply equally to China Connect Securities held for Hong Kong and overseas investors by the Clearing Participant through HKSCC. In addition, in Mainland China (where China Connect Securities are registered in a securities account opened with ChinaClear in the name of HKSCC), it is expressly stipulated in the CSRC China Connect Rules that HKSCC acts as the nominee holder and the Hong Kong and overseas investors are the beneficial owners of the China Connect Securities.

I/We shall conduct my/our own review of the materials published by HKEx on China Connect in relation to the ownership of China Connect Securities and the applicable China Connect Rules as they may be amended and supplemented from time to time. I/We shall also consult my/our own legal advisers to make my/our own assessment of my/our rights as a Northbound investor in China Connect Securities.

Under the rules of CCASS, HKSCC is prepared to provide assistance to the beneficial owners of China Connect Shares where necessary. HKEx notes that any beneficial owner who decides to take legal action is responsible for seeking its own independent legal advice to satisfy itself and HKSCC that a cause of action exists and the beneficial owner should be prepared to conduct the action and take up all costs in relation to the action, including providing HKSCC with indemnities and legal representation in proceedings. Further details are set out in the HKEx published materials.

Clearinghouse Risk

23 Risk of ChinaClear Default

ChinaClear has established a risk management framework and measures that are approved and supervised by the CSRC. If ChinaClear (as the host central counterparty) defaults, HKSCC has stated that it may (but shall have no obligation to) take any legal action or court proceeding to seek recovery of the outstanding China Connect Securities and monies from ChinaClear through available legal channels and through ChinaClear’s liquidation process, if applicable. As ChinaClear does not contribute to the HKSCC guarantee fund, HKSCC will not use the HKSCC guarantee fund to cover any residual loss as a result of closing out any of ChinaClear’s positions. HKSCC will in turn distribute the China Connect Securities and/or monies recovered to Clearing Participants on a pro-rata basis as prescribed by the relevant China Connect Authorities. The Bank in turn will be distributing China Connect Securities and/or monies to the extent recovered directly or indirectly from HKSCC. Although the likelihood of a default by ChinaClear is considered to be remote, investors should be aware of this arrangement and of this potential exposure before engaging in Northbound trading.

24 Risk of HKSCC Default

The Bank’s provision of services pursuant to the China Connect Terms also depends upon the performance by HKSCC of its obligations. Any action or inaction of the HKSCC or a failure or delay by the HKSCC in the performance of its obligations may result in a failure of settlement of China Connect Securities and/or monies in connection with them and I/we may suffer losses as a result. Neither the Bank nor any Related Person shall have any responsibility or liability for any such losses.

Other Operational Issues

25 Scripless Securities

China Connect Securities are traded in scripless form and accordingly, China Connect Securities may not be physically deposited into and/or withdrawn from CCASS.

26 Company Announcements on Corporate Actions

Any corporate action in respect of China Connect Securities will be announced by the relevant issuer through the SSE website and/or SZSE website (as the case may be) and certain appointed newspapers. HKSCC will also record all corporate actions relating to China Connect Securities in CCASS and inform its Clearing Participants of the details via the CCASS terminals as soon as practicable on the announcement date. Investors engaged in Northbound trading may refer to the SSE website and/or the SZSE website (as the case may be) and the officially appointed newspapers and website (such as Shanghai Securities News (上海證券報), Securities Times (證券時報), China Securities Journal (中國證券報), Securities Daily (證券日報) and www.cninfo.com.cn (巨潮資訊網 ) or, alternatively, the HKEx website’s China Stock Markets Web (or such other replacement or successor web page from time to time) for corporate actions in respect of China Connect Securities issued on the previous Trading Day. I/We understand that I/we should note that (i) issuers that are listed on the China Connect Markets publish corporate documents in simplified Chinese only, and English translations will not be available and (ii) issuers listed on the ChiNext Board are required to publish certain corporate announcements on their corporate websites and the officially appointed websites only.

In addition, HKSCC will endeavour to collect and distribute cash dividends relating to China Connect Securities to Clearing Participants in a timely manner. Upon receipt of the dividend amount, HKSCC will to the extent practicable arrange to distribute to relevant Clearing Participants on the same day.

Unlike the current practice in Hong Kong in respect of SEHK-listed shares, investors engaged in Northbound trading may not be able to attend shareholder meetings by proxy or in person.

The Bank does not and cannot ensure the accuracy, reliability or timeliness of any company announcements of corporate actions and neither the Bank nor any Related Person accepts any liability (whether in tort or contract or otherwise) for any loss or damage arising from any errors, inaccuracies, delays or omissions or any actions taken in reliance thereon. The Bank expressly disclaims all warranties, expressed or implied, as to the accuracy of any company announcement or as to the fitness of the information for any purpose.

27 Average Pricing across Funds for Fund Managers*  

If I/we act as a fund manager for more than one fund or an asset manager on behalf of more than one client and I/we pre-allocate China Connect orders across such funds or clients which I/we manage, the Bank may offer Average Pricing for such orders notwithstanding such orders may be executed at different times during the same Trading Day. Where Average Pricing applies, each fund or client will be allocated China Connect Securities (or their proceeds) at the same averaged price, which may be higher or lower than the price which such fund or client would have paid or received had the orders been processed individually and in the order submitted directly or indirectly to the Bank. Neither the Bank nor any Related Person will be responsible for any such differences in pricing or any loss or risk arising from the application of Average Pricing.

* Note: Applicable only to fund managers electing for pre-trade allocation.

28 Disclosure of Information and Publication of Trade Information

SEHK may require the Bank to provide information on my/our profile, and the type and value of my/our orders in relation to Northbound trading of China Connect Securities and the trades which the Bank executed for me/us at such intervals and in such form as SEHK may specify from time to time for purposes of the publication, dissemination or public distribution of aggregated information in respect of China Connect Securities trades under China Connect, trading volumes, investor profiles and other related data. SEHK may forward such information to the relevant China Connect Market for surveillance and investigation purposes.

29 Client Error

Neither the Bank nor any Related Person shall be liable for any loss, damage or expense or consequential loss, damage or expense suffered by an investor as a result of any trading based on the investor’s instructions. The Bank will not be able to unwind any trade, and investors should also take note of the settlement arrangements in respect of China Connect Securities under China Connect, including but not limited to quota restrictions.

The China Connect Rules generally prohibit any off-exchange trading or transfers. However transfers may be permitted between the Bank and me/us to rectify a trade in limited circumstances, although there is a lack of clarity as to the circumstances in which such transfers may be permitted. The Bank shall have absolute discretion to determine whether to conduct any transfer to rectify any error trade and shall have no obligation to do so. Neither the Bank nor any Related Person shall have any liability for any losses which may result directly or indirectly from such errors or any refusal to conduct a transfer to correct an error trade.

30 Retention of Information

I/We acknowledge and accept that the Bank will be required under the China Connect Rules to keep records for a period of not less than 20 years of (a) all orders and trades executed on my/our behalf; (b) any instructions received from me/us; (c) my/our account information in relation to Northbound trading; and (d) all relevant information concerning margin trading and stock borrowing and lending of any China Connect Shares (including, without limitation, in respect of any such margin trading, the relevant securities margin trading arrangement and the funds provided).

31 China Connect Market System

SEHK or the relevant SEHK Subsidiary (after consulting with SEHK) may, under certain circumstances as specified in the SEHK rules and/or whenever the SEHK determines that it is appropriate and in the interest of a fair and orderly market to protect investors, temporarily suspend or restrict all or part of the order-routing and related supporting services with regard to all or any Northbound trading of China Connect Securities, and for such duration and frequency as SEHK may consider appropriate. I/We will not be able to buy or sell China Connect Securities on SEHK through China Connect during any period in which trading of China Connect Securities is suspended. In particular, I/we should note that while trading of China Connect Securities is suspended by the SEHK, trading of such China Connect Securities may continue on the relevant China Connect Market. I/We may remain exposed to fluctuations in the price of China Connect Securities caused by trading on the relevant China Connect Market during the period when trading of such China Connect Securities is suspended by SEHK.

SEHK has absolute discretion to change the operational hours and arrangements of the China Connect Service at any time and without advance notice, whether on a temporary basis, due to operational needs, inclement weather, under emergency situations or otherwise. Moreover, SEHK or the relevant SEHK Subsidiary (with the agreement of SEHK) may cease the provision of the China Connect Northbound trading service permanently.

Such suspension, restriction or cessation will affect the Bank’s ability to accept and process my/our orders and I am/we are advised to refer to the HKEx website and other information published by the HKEx for up-to-date information. There can be no assurance that my/our orders will be accepted or processed, notwithstanding that China Connect Securities may be traded through other channels including, without limitation, by Mainland China investors on the relevant China Connect Market.

Further, the SEHK rules state that where any H Shares with corresponding A Shares eligible as China Connect Securities are suspended from trading on SEHK, but the corresponding A Shares are not suspended from trading on the relevant China Connect Market, the service for routing the China Connect sell orders and China Connect buy orders for such A Shares to the relevant China Connect Market for execution will normally remain available. However, SEHK may, in its discretion, restrict or suspend such service without prior notice and my/our ability to place sell orders and buy orders may be affected.

The China Connect Market System is a platform for trading of China Connect Securities under China Connect. The Bank provides trading services based on the China Connect Market System which is operated by the relevant China Connect Market. The Bank is not responsible for any delay or failure caused by any China Connect Market System and investors accept all risks arising from trading China Connect Securities through any China Connect Market System. Neither the Bank nor any Related Person shall be responsible or held liable for any loss or damage directly or indirectly suffered by me/us arising from or in connection with the China Connect Service or the CSC through Northbound trading including, without limitation, the following:

(a) a suspension, restriction or cessation of the China Connect Service or the CSC, or any inability to access or use the CSC or the China Connect Service;

(b) any special arrangement put in place or any action, step or measure taken or not taken to deal with an emergency or contingencies, including but not limited to the cancellation of any or all China Connect orders input by Exchange Participants;

(c) any suspension, delay, interruption or cessation of trading of any China Connect Securities on the relevant China Connect Market;

(d) any delay, suspension, interruption or order cancellation of any China Connect Securities as a result of the hoisting of a Typhoon Signal No. 8 or above or the issuance of the Black Rainstorm Warning in Hong Kong;

(e) any delay or failure to route any China Connect orders or any delay or failure to send any order cancellation requests or to provide the China Connect Service due to any system, communication or connection failure, power outage, software or hardware malfunction or other events beyond the Bank’s or a Related Person’s control or the control of SEHK;

(f) any circumstance in which a China Connect order which the Bank has requested to be cancelled not being cancelled for any reason whatsoever;

(g) in the circumstance that SEHK or the relevant China Connect Market requires that the Bank rejects any order for China Connect Service;

(h) any delay, failure or error of any China Connect Market System or any system upon which the Bank or a Related Person, the relevant SEHK Subsidiary is reliant in providing the China Connect Service; and

(i) any delay or failure to execute, or any error in matching or executing, any China Connect order due to reasons beyond the control of SEHK, HKEx or the relevant SEHK Subsidiary, the Bank or any Related Person, including but not limited to any action or decision taken or made, or not taken or made, by any China Connect Authority or any other relevant governmental or regulatory body.

If there is any delay or failure to send any order cancellation requests in any circumstance described in paragraph (e) above, I/we shall, in the event such order is matched and executed, remain responsible for fulfilling any settlement obligations in respect of such transaction.

I/We acknowledge that HKEx, SEHK, SEHK Subsidiaries, SSE, SZSE, the subsidiaries of any China Connect Market and their respective directors, employees and agents are not responsible or held liable for any such losses.

32 Operational Hours

SEHK has absolute discretion to determine from time to time the operational hours of the China Connect Service, and will have absolute discretion to change the operational hours and arrangements of the China Connect Service at any time and without advance notice whether on a temporary basis or otherwise. The Bank shall not be under any obligation to inform me/us of any such determinations by the SEHK as to the operational hours of the China Connect Service.

Where, for example, there is any price sensitive information relating to a Mainland China Listco during a time when China Connect Service is not in operation, China Connect Securities issued by or in respect of the Mainland China Listco may continue to trade on the relevant China Connect Market and the price of such China Connect Securities may move significantly. In such case, Northbound investors will not be able to trade in such securities until the next available Trading Day under China Connect.

33 Margin Trading

Subject to certain conditions prescribed by the China Connect Authorities, investors may conduct margin trading in China Connect Shares determined by the relevant China Connect Authorities to be eligible for margin trading (“Eligible Margin Trading Shares”). The HKEx will from time to time publish a list of Eligible Margin Trading Shares. A China Connect Market may suspend margin trading activities in any specific A Share if the volume of margin trading activities in such A Share exceeds a threshold determined by such China Connect Market and resume margin trading activities in such A share when the volume of margin trading activities drops below a prescribed threshold. Where the SEHK is notified by the relevant China Connect Market that a suspension or resumption involves a security on the list of Eligible Margin Trading Shares, the HKEx will disclose such information on its website. In such circumstances, any margin trading (except for margin trading in respect of China Connect Shares buy orders) in the relevant China Connect Share shall be suspended and/or resumed accordingly. The relevant China Connect Market reserves the right to require at some future date for margin trading orders to be flagged when routed to China Connect. Neither the Bank nor any Related Person shall have any obligation to update me/us in respect of the list of Eligible Margin Trading Shares or any restrictions or suspensions in respect of margin trading from time to time.

34 Rights Issuances

Where I/we receive any form of entitlement security from the issuer of a China Connect Security, if such entitlement security:

(a) is a China Connect Security, I/we shall be permitted to buy and sell the entitlement security through China Connect;

(b) is not a China Connect Security but is a RMB denominated security listed on a China Connect Market, I/we may be allowed to sell the entitlement security through China Connect but will not be permitted to buy such entitlement security;

(c) is a security listed on a China Connect Market but is not traded in RMB, I/we will not be allowed to buy or sell the entitlement security through China Connect; and

(d) is not listed on a China Connect Market, I/we shall not be allowed to buy or sell the entitlement security on China Connect unless and until appropriate arrangements (if any) have been provided by HKSCC. It is possible that no such alternative arrangements will be provided.

35 Odd Lot Trading

Odd lot trading in China Connect Shares is available only for sell orders and all odd lots must be sold in one single order. A board lot order may be matched with different odd lot sell orders, resulting in odd lot trades. Board lot and odd lot orders are matched on the same platform on China Connect and subject to the same share price. The maximum order size is 1 million shares and the tick size is uniformly set at RMB0.01.

36 Stock Borrowing and Lending

The SEHK has announced that stock borrowing and lending will be permitted for eligible China Connect Shares as specified by the relevant China Connect Market for the purpose of (a) covered short selling and (b) satisfying the Pre-Trade Checking requirement. Stock borrowing and lending of eligible China Connect Shares will be subject to restrictions set by SEHK and the relevant China Connect Market, including but not limited to the following:

(a) stock borrowing and lending agreements for the purpose of covered short selling shall have a duration of not more than one month;

(b) stock borrowing and lending agreements for the purpose of satisfying the Pre-Trade Checking requirement shall have a duration of not more than one day (and roll-over is not permitted);

(c) stock lending will be restricted to certain types of persons to be determined by the relevant China Connect Market; and

(d) stock borrowing and lending activities will be required to be reported to SEHK.

The relevant China Connect Market will determine a list of China Connect Shares eligible for stock borrowing and lending. Special China Connect Securities are not eligible for stock borrowing and lending for the purpose of covered short selling (but are eligible for the purpose of satisfying the Pre-Trade Checking requirement). The Bank will be required to provide such information to any relevant Exchange Participant (which may include the custodial agent) to enable such Exchange Participant to comply with its monthly reporting requirements in respect of stock borrowing and lending activities with respect to China Connect Shares. This may include (amongst others) details of the borrower, lender, amount of shares borrowed/lent, amount of shares outstanding and date of borrowing/returning.

Investors are advised to refer to the relevant provisions from time to time applicable in the SEHK China Connect Rules (as and when these are published) and in the China Connect Laws and China Connect Rules.

37 RMB Conversion

RMB is not freely convertible at present. The actual conversion arrangements will depend on the restrictions prevailing at the relevant time. Any conversion of any currency into RMB pursuant to Clause 8 (Settlement and Currency Conversion) of the China Connect Terms may be subject to such restrictions. Settlement of a Northbound buy order may be delayed and/or fail if there is a delay in converting the relevant currency into RMB. Any risk, loss or cost resulting from any such delay or failure of settlement shall be borne by me/us.

Risks associated with investing in China Connect Securities

38 ChiNext Shares

ChiNext Shares involve a high investment risk. In particular, profitability and other financial  requirements for listing on the ChiNext Board are less stringent than the Main Board and the SME Board of the SZSE. I/we acknowledge that I/we should make the decision to invest only after due and careful consideration.

Companies listed on the ChiNext Board may include enterprises in the innovation and technology sector as well as other start-up and/or growth enterprises with smaller operating scale and share capital. Stock prices may also be more susceptible to manipulation due to fewer circulating shares. Accordingly, the ChiNext Shares may be very volatile and illiquid. In addition, current information on such companies may be limited and may not be widely available.

It may be more common and easier for companies listed on the ChiNext Board to be delisted. The ChiNext Shares may become very illiquid after delisting. I/We acknowledge that I/we may suffer a total loss of my/our investment in the event of a delisting.

I/We acknowledge that I/we should seek independent professional advice if I am/we are uncertain of or have not understood any aspect of this risk disclosure statement or the nature and risks involved in trading of ChiNext Shares.

39 Other risks associated with investing in China Connect Securities

General Mainland China related risk

Mainland China is an emerging market that possesses one or more of the following characteristics: a certain degree of political instability, relatively unpredictable financial markets and economic growth patterns, a financial market that is still at the development stage or a weak economy. Emerging markets investments usually result in higher risks such as event risk, political risk, economic risk, credit risk, currency rate risk, market risk, liquidity/gapping risk, regulatory/legal risk, trade settlement, processing and clearing risks and bondholder/shareholder risk.

Equity risk

Investing in China Connect Securities may offer a higher rate of return than investing in short term and longer term debt securities. However, the risks associated with investments in China Connect Securities may also be higher, because the investment performance of China Connect Securities depends upon factors which are difficult to predict. Such factors include the possibility of sudden or prolonged market declines and risks associated with individual companies. The fundamental risk associated with any equity portfolio is the risk that the value of the investments it holds might suddenly and substantially decrease in value.

General legal and regulatory risk

I/We must comply with all China Connect Laws and China Connect Rules. Furthermore, any change in any China Connect Laws or China Connect Rules may have an impact on the market sentiment which may in turn affect the performance of China Connect Securities. It is impossible to predict whether such an impact caused by any such change will be positive or negative for China Connect Securities. In the worst case scenario, I/we may lose a material part of my/our investments in China Connect Securities. In addition, any litigation or other legal actions brought before the courts in Mainland China will be subject to Mainland China laws, rules and procedures, which are not the same as those which apply to the courts in Hong Kong.

Currency risk

RMB is not yet freely convertible, and is subject to foreign exchange controls and restrictions. Particularly, conversion of RMB through banks in Hong Kong may be subject to certain restrictions prevailing at the relevant time. It may be difficult for investors to convert RMB into Hong Kong dollars or other currencies or vice versa at any specific time, and conversion will be subject to conversion costs and such costs and timings for conversion may not be of my/our preference.

In addition, the value of RMB against Hong Kong dollars or other foreign currencies may be affected by a wide range of factors. There is no guarantee that RMB will not depreciate. A depreciation of RMB may result in a decrease in the market value of RMB securities and the realisation price of RMB securities. Non-RMB based investors who are trading in RMB securities, may also sustain loss in the event that they subsequently convert any RMB proceeds back to Hong Kong dollars or other base currencies.

There are also significant restrictions on the remittance of RMB into and out of Mainland China. If the issuer of RMB securities is not able to remit RMB to Hong Kong or make distributions in RMB due to exchange controls or other restrictions, the issuer may make distributions (including dividends and other payments) in other currencies. Investors may therefore be exposed to additional foreign exchange risk and liquidity exposures.

The liquidity and trading price of China Connect Securities may be adversely affected by the limited availability of RMB outside Mainland China and restrictions on the conversion of RMB. These factors may affect the liquidity of RMB for investors and accordingly adversely affect the market demand for China Connect Securities.


Explanation of General Risks Associated with Exchange-Traded Derivative Products


Trading in derivative warrant, Callable Bull/Bear Contracts (CBBC), synthetic Exchange Traded Funds (ETFs) and Leveraged and Inverse products involve high risks and may not be suitable for every investor. China CITIC Bank International (the "Bank") strongly advise investors to have a thorough understanding of the product as well as the terms and conditions of the derivative warrant, CBBC, synthetic ETFs and Leveraged and Inverse products being offered and / or consult professional investment advisers before trading. The risks set out below may not cover all risks on trading derivative warrant, CBBC, synthetic Exchange Traded Funds (ETFs) and Leveraged and Inverse products. More information can be found in Hong Kong Exchanges and Clearing Limited (the "HKEx") website (www.hkex.com.hk) and Securities and Futures Commission ("SFC") website (www.sfc.hk).

1. Risks Involved in Trading Derivative Warrant and Callable Bull/Bear Contracts (CBBCs)

a. Issuer default Risk

In the event that a Derivative Warrants and CBBCs issuer becomes insolvent and defaults on their listed securities, investors will be considered as unsecured creditors and will have no preferential claims to any assets held by the issuer.  Investors should therefore pay close attention to the financial strength and credit worthiness of Derivative Warrants and CBBCs issuers.

b. Uncollateralised product risk

Uncollateralised Derivative Warrants and CBBCs are not asset backed.  In the event of issuer bankruptcy, investors can lose their entire investment.  Investors should read the listing documents to determine if a product is uncollateralised.

c. Gearing Risk

Derivative Warrants and CBBCs are leveraged and can change in value rapidly according to the gearing ratio relative to the underlying assets.  Investors should be aware that the value of a Derivative Warrants and CBBCs may fall to zero resulting in a total loss of the initial investment.

d. Expiry considerations

Derivative Warrants and CBBCs have an expiry date after which the issue may become worthless.  Investors should be aware of the expiry time horizon and choose a product with an appropriate lifespan for their trading strategy.

e. Extraordinary price movements

The price of a Derivative Warrants and CBBCs may not match its theoretical price due to outside influences such as market supply and demand factors.  As a result, actual traded prices can be higher or lower than the theoretical price.

f. Foreign exchange risk

Investors trading Derivative Warrants and CBBCs with underlying assets not denominated in Hong Kong dollars are also exposed to exchange rate risk.  Currency rate fluctuations can adversely affect the underlying asset value, also affecting the Derivative Warrants and CBBCs price.

g. Liquidity risk

The Hong Kong Exchanges and Clearing Limited requires all Derivative Warrants and CBBCs issuers to appoint a liquidity provider for each individual issue.  The role of liquidity providers is to provide two way quotes to facilitate trading of their products.  In the event that a liquidity provider defaults or ceases to fulfill its role, investors may not be able to buy or sell the product until a new liquidity provider has been assigned.

Additional Risks Involved in Trading Derivative Warrants

h. Time decay risk

All things being equal, the value of a derivative warrant will decay over time as it approaches its expiry date.  Derivative warrants should therefore not be viewed as long term investments. 

i. Volatility risk 

Prices of derivative warrants can increase or decrease in line with the implied volatility of underlying asset price.  Investors should be aware of the underlying asset volatility.

Additional Risks Involved in Trading CBBCs

j. Mandatory call risk

Investors trading CBBCs should be aware of their intraday “knockout” or mandatory call feature.  A CBBC will cease trading when the underlying asset value equals the mandatory call price/level as stated in the listing documents.  Investors will only be entitled to the residual value of the terminated CBBC as calculated by the product issuer in accordance with the listing documents.  Investors should also note that the residual value can be zero.

k. Funding costs 

The issue price of a CBBC includes funding costs.  Funding costs are gradually reduced over time as the CBBC moves towards expiry.  The longer the duration of the CBBC, the higher the total funding costs.  In the event that a CBBC is called, investors will lose the funding costs for the entire lifespan of the CBBC.  The formula for calculating the funding costs are stated in the listing documents.

l. Trading of CBBC close to Call Price

When the underlying asset is trading close to the Call Price, the price of a CBBC may be more volatile with wider spreads and uncertain liquidity. CBBC may be called at any time and trading will terminate as a result.

However, the trade inputted by the investor may still be executed and confirmed by the Exchange Participants after the mandatory call event since there may be some time lapse between the mandatory call event time and suspension of the CBBC cancelled. Therefore, investors should be aware of the risk and ought to apply special caution when the CBBC is trading close to the Call Price.

m. CBBC with overseas underlying assets

Investors trading CBBC with overseas underlying assets are exposed to an exchange rate risk as the price and cash settlement amount of the CBBC are converted from a foreign currency into Hong Kong dollars. Exchange rates between currencies are determined by forces of supply and demand in the foreign exchange markets which are affected by various factors.

Besides, CBBC issued on overseas underlying assets may be called outside the Exchange’s trading hours. In such case, the CBBC will be terminated from trading on the Exchange in the next trading session or soon after the issuer has notified the Exchange about the occurrence of the mandatory call event.

2. Risks Involved in Trading Exchange Traded Funds (”ETFs”)

a. Market Risk

An ETF is exposed to the economic, political, currency, legal and other risks of a specific sector or market related to the index and the market that it is tracking. ETFs are typically designed to track the performance of certain indices, market sectors, or groups of assets such as stocks, bonds, or commodities. ETF managers may use different strategies to achieve this goal, but in general they do not have the discretion to take defensive positions in declining markets. Investors must be prepared to bear the risk of loss and volatility associated with the underlying index/assets.

b. Tracking errors

Tracking errors refer to the disparity in performance between an ETF and its underlying index/assets. Tracking errors can arise due to factors such as the impact of transaction fees and expenses incurred to the ETF, changes in composition of the underlying index/assets, and the ETF manager’s replication strategy. Depending on its particular strategy, an ETF may not hold all the constituent securities of an underlying index in the same weightings as the constituent securities of the index. Therefore, the performance of the securities underlying the ETF as measured by its NAV may outperform or under-perform the index.

c. Trading at discount or premium

An ETF may be traded at a discount or premium to its Net Asset Value (NAV). This price discrepancy is caused by supply and demand factors, and may be particularly likely to emerge during periods of high market volatility and uncertainty. This phenomenon may also be observed for ETFs tracking specific markets or sectors that are subject to direct investment restrictions. The supply and demand imbalance can only be addressed by creating and redeeming additional units. So, disruption to the creation or redemption of units may result in the ETF trading at a higher premium or discount to its NAV than may normally be the case for a traditional ETF with no such restriction.

d. Passive investments risk

ETF is not "actively managed" and therefore, when there is a decline in the underlying index, the ETF that tracks the index will also decrease in value. The ETF Manager will not take defensive positions in declining markets, investors may lose a significant part of their respective investments if the underlying Index falls.

e. Risks relating to ETF termination

An ETF, like any fund, may be terminated early under certain circumstances, for example, where the index is no longer available for benchmarking or if the size of the ETF falls below a pre-determined NAV threshold as set out in the constitutive documents and offering documents. Investors should refer to the section in the offering document relating to termination for further details. Investors should also note that the market-making activities and the trading of ETF units may be adversely affected in the secondary market as the creation of units will cease once the termination of the ETF is announced. As a result, the trading price of such ETF units may become very volatile resulting in substantial losses to investors. Furthermore, the NAV of an ETF may drop substantially once the expenses and costs of the termination is set aside upon announcement of the termination. Investors may suffer a substantial loss as a result of these expenses and costs associated with the termination.

f. Foreign Exchange Risk

Investors trading ETFs with underlying assets not denominated in Hong Kong dollars are also exposed to exchange rate risk. Currency rate fluctuations can adversely affect the underlying asset value, also affecting the ETF price.

g. Liquidity Risk

Securities Market Makers (SMMs) are Exchange Participants that provide liquidity to facilitate trading in ETFs. Although most ETFs are supported by one or more SMMs, there is no assurance that active trading will be maintained. In the event that the SMMs default or cease to fulfill their role, investors may not be able to buy or sell the product. Besides, a higher liquidity risk is involved if an ETF uses financial derivative instruments, including structured notes and swaps, which are not actively traded in the secondary market and whose price transparency is not as easily accessible as physical securities. This may result in a bigger bid and offer spread. These financial derivative instruments also are susceptible to more price fluctuations and higher volatility. Hence, they can be more difficult and costly to unwind early, especially when the instruments provide access to a restricted market where liquidity is limited in the first place.

h. Counterparty risk involved in ETFs with different replication strategies

1. Full replication and representative sampling strategies

An ETF using a full replication strategy generally aims to invest in all constituent stocks/assets in the same weightings as its benchmark.  ETFs adopting a representative sampling strategy will invest in some, but not all of the relevant constituent stocks/assets.  For ETFs that invest directly in the underlying assets rather than through synthetic instruments issued by third parties, counterparty risk tends to be less of concern.

2. Synthetic replication strategies

ETFs utilising a synthetic replication strategy use swaps or other derivative instruments to gain exposure to a benchmark.  Currently, synthetic replication ETFs can be further categorized into two forms:

i. Swap-based ETFs

  • Total return swaps allow ETF managers to replicate the benchmark performance of ETFs without purchasing the underlying assets.
  • Swap-based ETFs are exposed to counterparty risk of the swap dealers and may suffer losses if such dealers default or fail to honor their contractual commitments.

ii. Derivative embedded ETFs

a. ETF managers may also use other derivative instruments to synthetically replicate the economic benefit of the relevant benchmark.  The derivative instruments may be issued by one or multiple issuers.

b. Derivative embedded ETFs are subject to counterparty risk of the derivative instruments’ issuers and may suffer losses if such issuers default or fail to honour their contractual commitments.

i. Early Unwinding of Derivatives Risk

Synthetic ETFs typically invest in derivatives to track an index’s performance. The costs associated with the unwinding of these derivatives before maturity may vary depending on prevailing market conditions. Such costs may be significant, particularly during times of high market volatility. Hence, in the event of redemption or if the synthetic ETF is terminated (for example, due to the reason that the fund size becomes too small), the proceeds payable to investors may be significantly less than the net asset value of the fund units as a result of the cost associated with unwinding of the derivatives before maturity. This may lead to substantial loss to investors.

j. Tax and other risks

Like all investments, an ETF may be subject to tax imposed by the local authorities in the market related to the index that it tracks, emerging market risks and risks in relation to the change of policy of the reference market.

k. Risks relating to Mainland capital gains tax liability

There are risks and uncertainties concerning the application of the Mainland capital gains tax ("CGT") regime on investments by foreign investors (including non-Mainland domiciled investment funds, QFIIs and RQFIIs) in Mainland securities, and such tax is not currently enforced.

It is a matter of professional and commercial judgement on the part of each fund manager, acting in the best interest of investors after taking professional tax advice, to consider and decide whether to make provision (and if so, the extent and provisioning policy) for the ETF’s potential CGT liability or to change the ETF’s existing CGT provisioning policy from time to time.

Depending on the tax advice obtained and other relevant factors, each ETF’s tax provisioning policy may be different. There may be ETFs without making any CGT provision at all. Even if an ETF makes CGT provision, such provision may be excessive or inadequate. The Mainland tax rules and policies are subject to changes. There are risks that CGT may be enforced by the Mainland tax authorities and that such enforcement may be on a retrospective basis. If and when CGT is collected by the Mainland tax authorities, any shortfall between the provisions (if any) and actual tax liabilities will have to be paid out of the ETF's assets and could have a material adverse impact on the ETF's net asset value (NAV), whereby causing significant losses to investors.

Enforcement of the CGT by Mainland tax authorities and/or change in tax provisioning policy by a fund manager will impact investors remaining in the ETF. Investors who have sold/redeemed their interests prior to such enforcement and/or change will not be impacted. Likewise, such investors will not benefit from any release of tax provisions back into the ETF. Investors may be advantaged or disadvantaged depending upon whether and how the CGT will ultimately be taxed and when the investors invest in the ETF.

Investors should carefully read the CGT provisioning policy of an ETF (which may have substantial exposure to Mainland securities whether through RQFII, QFII or other Mainland market access derivative products) and the associated risks as disclosed in the offering documents before investing in the ETF. If in doubt, they should consult their professional advisors.

Even where collateral is obtained by an ETF, it is subject to the collateral provider fulfilling its obligations.  There is a further risk that when the right against the collateral is exercised, the market value of the collateral could be substantially less than the amount secured resulting in significant loss to the ETF.

3. Risks Involved in Trading Leveraged and inverse products (“L&I Products”)

a. Investment risk

Trading L&I Products involves investment risk and are not intended for all investors. There is no guarantee of repaying the principal amount.

b. Volatility risk

Prices of L&I Products may be more volatile than conventional exchange traded funds (ETFs) because of using leverage and the rebalancing activities.

c. Unlike conventional ETFs

L&I Products are different from conventional ETFs. They do not share the same characteristics and risks as conventional ETFs.

d. Long-term holding risk

L&I Products are not intended for holding longer than the rebalancing interval, typically one day. Daily rebalancing and the compounding effect will make the L&I Product’s performance over a period longer than one day deviate in amount and possibly direction from the leveraged/inverse performance of the underlying index over the same period. The deviation becomes more pronounced in a volatile market.

As a result of daily rebalancing, the underlying index’s volatility and the effects of compounding of each day’s return over time, it is possible that the leveraged product will lose money over time while the underlying index increases or is flat. Likewise, it is possible that the inverse product will lose money over time while the underlying index decreases or is flat.

e. Risk of rebalancing activities

There is no assurance that L&I Products can rebalance their portfolios on a daily basis to achieve their investment objectives. Market disruption, regulatory restrictions or extreme market volatility may adversely affect the rebalancing activities.

f. Liquidity risk

Rebalancing typically takes place near the end of a trading day (shortly before the close of the underlying market) to minimize tracking difference. The short interval of rebalancing may expose L&I Products more to market volatility and higher liquidity risk.

g. Intraday investment risk

Leverage factor of L&I Products may change during a trading day when the market moves but it will not be rebalanced until day end. The L&I Product’s return during a trading day may be greater or less than the leveraged/opposite return of the underlying index.

h. Portfolio turnover risk

Daily rebalancing causes a higher levels of portfolio transaction when compared to conventional ETFs, and thus increases brokerage and other transaction costs.

i. Correlation risk

Fees, expenses, transactions cost as well as costs of using financial derivatives may reduce the correlation between the performance of the L&I Product and the leveraged/inverse performance of the underlying index on a daily basis.

j. Termination risk

L&I Products must be terminated when all the market makers resign. Termination of the L&I Product should take place at about the same time when the resignation of the last market maker becomes effective.

k. Leverage risk (for leveraged products only)

The use of leverage will magnify both gains and losses of leveraged products resulting from changes in the underlying index or, where the underlying index is denominated in a currency other than the leveraged product's base currency, from fluctuations in exchange rates.

l. Unconventional return pattern (for inverse products only)

Inverse products aim to deliver the opposite of the daily return of the underlying index. If the value of the underlying index increases for extended periods, or where the exchange rate of the underlying index denominated in a currency other than the inverse product's base currency rises for an extended period, inverse products can lose most or all of their value.

m. Inverse products vs short selling (for inverse products only)

Investing in inverse products is different from taking a short position. Because of rebalancing, the performance of inverse products may deviate from a short position in particular in a volatile market with frequent directional swings.

Disclaimer:

This document does not disclose all risks and features of the exchange-traded derivative products mentioned herein which are traded on the Hong Kong Exchanges and Clearing Limited (the "HKEx"). It is for general reference and information purposes only and has not taken into account of your personal circumstances. The information herein regarding exchange-traded derivative products is based on the information from sources which the Bank believes to be reliable but which has not been verified independently. For more detailed information regarding financial derivative products, you can refer to the websites of HKEx (www.hkex.com.hk/eng/index.htm) and SFC (www.sfc.hk/sfc/html/EN). 

China CITIC Bank International Limited (the "Bank") makes no representations or warranties, expressed or implied, as to the completeness or accuracy of the contents in this document. The Bank and its affiliates accepts no responsibility for any loss, damage, liability or consequence whatsoever arising from or in connection with the reliance upon or use of this document by anybody.

Before making any investment decision, you should read carefully the applicable terms and conditions, offering documents and any other relevant documentation in relation to the product and transaction contemplated. You should not deal in any exchange-traded derivative products unless you understand the nature of the product, its risks and the extent of the exposure to risks. Consideration should also be given to your own investment experience, objectives, financial position, risk tolerance level, particular circumstances and needs amongst the others. Your investment decision may also be affected by other factors whether in relation to the product, the transaction, product suitability, matters relating to legal, tax, financial, accounting or otherwise.  You should make your own assessment and are strongly advised to obtain independent professional advice in case of doubt or where necessary.

This document does not and shall not in any event constitute, nor is it intended to be nor should it be construed or deemed as offer or solicitation to invest in any investment products. Neither does or shall this document in any event constitute or be deemed as an investment advice or recommendation.  The Bank and its affiliates shall not be responsible for any loss caused by the investment in any products mentioned herein.

This document is not intended to be distributed to persons in any jurisdictions or countries that will violate the law or regulation, and it is not intended to be used by such persons.


Agreement for Market Data Display Services (Usage-Based Services/Nonprofessional Subscriber Status)


China CITIC Bank International Limited ("Vendor") agrees to make "Market Data" available to you pursuant to the terms and conditions set forth in this agreement. By executing this Agreement in the space indicated below, you ("Subscriber") agree to comply with those terms and conditions. Section 1 sets forth terms and conditions of general applicability. Section 2 applies insofar as Subscriber receives and uses Market Data made available pursuant to this Agreement as a Nonprofessional Subscriber.

TERMS AND CONDITIONS OF GENERAL APPLICABILITY

1. MARKET DATA DEFINITION – For all purposes of this Agreement, "Market Data" means (a) last sale information and quotation information relating to securities that are admitted to dealings on the New York Stock Exchange ("NYSE"), (b) such bond and other equity last sale and quotation information, and such index and other market information, as United States-registered national securities exchanges and national securities associations (each, an "Authorizing SRO") may make available and as the NYSE may from time to time designate as "Market Data"; and (c) all information that derives from any such information.

2. PROPRIETARY NATURE OF DATA – Subscriber understands and acknowledges that each Authorizing SRO and Other Data Disseminator has a proprietary interest in the Market Data that originates on or derives from it or its market(s).

3. ENFORCEMENT – Subscriber understands and acknowledges that (a) the Authorizing SROs are third-party beneficiaries under this Agreement and (b) the Authorizing SROs or their authorized representative(s) may enforce this Agreement, by legal proceedings or otherwise, against Subscriber or any person that obtains Market Data that is made available pursuant to this Agreement other than as this Agreement contemplates. Subscriber shall pay the reasonable attorney's fees that any Authorizing SRO incurs in enforcing this Agreement against Subscriber.

4. DATA NOT GUARANTEED – Subscriber understands that no Authorizing SRO, no other entity whose information is made available over the Authorizing SROs' facilities (an "Other Data Disseminator") and no information processor that assists any Authorizing SRO or Other Data Disseminator in making Market Data available (collectively, the "Disseminating Parties") guarantees the timeliness, sequence, accuracy or completeness of Market Data or of other market information or messages disseminated by any Disseminating Party. Neither Subscriber nor any other person shall hold any Disseminating Party liable in any way for (a) any inaccuracy, error or delay in, or omission of, (i) any such data, information or message or (ii) the transmission or delivery of any such data, information or message, or (b) any loss or damage arising from or occasioned by (i) any such inaccuracy, error, delay or omission, (ii) non-performance or (iii) interruption in any such data, information or message, due either to any negligent act or omission by any Disseminating Party, to any "force majeure" (e.g., extraordinary weather conditions, earthquake or other act of God, war, insurrection, riot, labor dispute, accident, action of government, communications or power failure, equipment or software malfunction) or to any other cause beyond the reasonable control of any Disseminating Party.

5. PERMITTED USE – Subscriber shall not furnish Market Data to any other person or entity. If Subscriber receives Market Data other than as a Nonprofessional Subscriber, it shall use Market Data only for its individual use in its business.

6. DISSEMINATION DISCONTINUANCE OR MODIFICATION – Subscriber understands and acknowledges that, at any time, the Authorizing SROs may discontinue disseminating any category of Market Data, may change or eliminate any transmission method and may change transmission speeds or other signal characteristics. The Authorizing SROs shall not be liable for any resulting liability, loss or damages that may arise therefrom.

7. DURATION; SURVIVAL – This Agreement remains in effect for so long as Subscriber has the ability to receive Market Data as contemplated by this Agreement. In addition, Vendor may terminate this Agreement at any time, whether at the direction of the Authorizing SROs or otherwise. Paragraphs 2, 3 and 4, and the first two sentences of Paragraph 8, survive any termination of this Agreement.

8. MISCELLANEOUS – The laws of the State of New York shall govern this Agreement and it shall be interpreted in accordance with those laws. This Agreement is subject to the Securities Exchange Act of 1934, the rules promulgated under that act, and the joint-industry plans entered into pursuant to that act. This writing contains the entire agreement between the parties in respect of its subject matter. Subscriber may not assign all or any part of this Agreement to any other person. The person executing this Agreement below represents and warrants that he or she has legal capacity to contract and, if that person is executing this Agreement on behalf of a proprietorship or a business, partnership or other organization, represents and warrants that he or she has actual authority to bind the organization.

I, the "Subscriber" to which the preceding terms and conditions refer, acknowledge that I have read the preceding terms and conditions,  that I understand them and that I hereby agree to comply with those terms and conditions.


Customer Declaration


I/We confirm that:

1. I/We have received, read and fully understood and agreed to be bound by China CITIC Bank International Limited's (the “Bank”) General Terms and Conditions and all applicable Specific Terms and Conditions referred to the General Terms and Conditions (the “Applicable Ts&Cs”) and Terms and Conditions for One Account.

2. I/We warrant that the above information is true, accurate and complete and authorize the Bank to verify it with any source.  I/We hereby declare that all other information that I/we have supplied to the Bank relating to this form or the One Account is true, accurate and complete. I/We will also undertake to notify the Bank in writing immediately of any changes to any information I/we have supplied to the Bank (in this form or otherwise).  Until the Bank receives and complete the update of such notification of change of information from me/us, the Bank shall be entitled to rely on the information provided by me/us to the Bank (in this form or otherwise).

3. I/We consent to the use of my/our personal data in accordance with your “Notice to Customers and Other Individuals Relating to the Personal Data (Privacy) Ordinance and the Code of Practice on Consumer Credit Data” from time to time.

4. Subject to applicable laws, I/we hereby consent for the Bank to disclose and share information, documentation or certification concerning myself/ourselves, my/our beneficiaries and third parties for whom I am/we are acting as agent, including but not limited to my/our personal and account information or records, with any third party, including but not limited to any legal, regulatory, government, tax or law enforcement body within or outside of Hong Kong as is required for the Bank to provide services to me/us, including where necessary to establish my/our tax liability in any jurisdiction and also reporting of any reportable account(s) that may be reported to the Inland Revenue Department of the Government of the Hong Kong Special Administrative Region of the People’s Republic of China in which the account(s) is/are maintained and exchanged with tax authorities of another jurisdiction or jurisdiction in which the account holder may be resident for tax purposes pursuant to the competent authority agreement to exchange financial account information.

5. The Risk Disclosure Statements contained in the Terms and Conditions for One Account have been provided to me/us and that I/we have been invited to read the same, to ask questions and to take independent advice (if I/we wish).

6. I am/We are acting as principal and not trading on behalf of any other person and I am/we are the person(s) ultimately responsible for originating the instructions in relation to and the person(s) that stands to gain the commercial or economic benefit of each transaction in the One Account and/or bear the commercial or economic risk.

7. I/We agree that my/our signature(s) in this form shall be the signature(s) specimen for the newly opened One Account.

8. I/We acknowledge and agree that any payment by the Bank, including any payment made under Applicable Ts&Cs, may be subject to withholding and deduction as required under applicable laws, regulations, directives and guidelines, including under any Foreign Law Requirement (as defined in the Applicable Ts&Cs). Any amount as withheld may be held in whatever account or in whatever manner determined by the Bank at its sole discretion.

9. I/We acknowledge that I am/we are fully responsible for my/our own tax affairs, and that I am/we are solely liable for understanding and complying with any legal, tax, foreign exchange control or regulatory obligations that may apply to me/us in any relevant jurisdiction. I/We confirm that I/we have and will continue to fully comply with relevant laws and regulations. During the tenure of business relationship, I/we will not carry out any transactions, or aid and abet, or facilitate the laundering of the related proceeds that links to unlawful activities, including but not limited to tax evasion, drug trafficking, other indictable offence, money laundering or transactions with terrorists, through my/our accounts with the Bank. I/We understand my/our tax status and transaction activity is subject to screening and monitoring as part of the Bank’s AML review in compliance with Hong Kong’s regulatory requirements.

10. No provision in this declaration and other sections of this application form shall prejudice any consent, representation, undertaking or indemnity given by me/us (or on my/our behalf) or any other obligation or liability undertaken by me/us (or on my/our behalf) under or in connection with any other agreement between myself/ourselves and the Bank, including but not limited to the Applicable Ts&Cs.

11. I/We represent and warrant that I am/we are not a U.S. person (i.e. a citizen or resident of the United States) or resident of Canada for purposes of U.S. or Canada tax laws and that I am / we are not acting for, or on behalf of, a U.S. / Canada person. If my/our tax status changes and I/we become a U.S. person or resident of Canada, I/we must notify the Bank within 30 days and I am / we are fully aware that any investment products that I am / we are holding will immediately be redeemed and sale proceeds will be subject to U.S. / Canada tax information reporting. For purpose of complying with applicable laws and regulations (including but not limited to applicable U.S. / Canada tax laws), I/we waive any bank secrecy, privacy or data protection rights related to my account.

12. (a) I am/we are not a director(s), 10% or in excess of 10% beneficial shareholder(s) or policy-making officer(s) of a company/companies publicly traded in the U.S.; and

(b) I am/we are not at the time the One Account is opened, and will not at any time during the continuance of the One Account, hold in such account or effect transactions through such account, securities of any company with securities traded in the U.S. in which I am/we are:

(i) direct or indirect owner or beneficial owner (which would include the power to vote shares pursuant to trust or other instrument) of 5% or more than 5% of any class of voting securities of the company;

(ii) in a direct or indirect management or other decision-making position in the company;

(iii) closely-related to (spouse, parent, sibling, in-law), financially dependent on, or the primary financial support for, any person who owns directly or indirectly outright or through beneficial ownership 5% or in excess of 5% of any class of voting securities in such company or holds a management or other decision-making position in such company; or

(iv) a member of a formal or informal group that acting together will control 5% or more than 5% of any class of voting securities of such company.

13. I / We represent for the purposes of any Northbound trading through China Connect that:

(a) (i) I am / we are not a Mainland China Resident / Mainland China Residents or an entity / entities incorporated or registered under the laws of Mainland China, (ii) if I am / we are a Mainland China Resident / Mainland China Residents, I am /we are using funds lawfully owned by me / us and located outside Mainland China to make investments in China Connect Securities or (iii) if I am / we are an entity / entities incorporated or registered under the laws of Mainland China, my / our investment in China Connect  Securities has been conducted pursuant to any program (including the Qualified Domestic Institutional Investor Program, if applicable) approved by, or any other approval of, any competent Mainland China regulator; and

(b) My / our investment in China Connect Securities does not violate the laws and regulations of Mainland China, including those in relation to foreign exchange control and reporting.

14. I / We understand and acknowledge that RMB is currently not freely convertible and conversion of RMB through banks in Hong Kong may be subject to certain restrictions prevailing at the relevant time. Accordingly, I / we will be subject to RMB exchange rate risk and conversion risk if any taxes, levies, fees or charges imposed in relation to RMB denominated securities are charged in a currency other than RMB.

15. I/We will not hold the Bank responsible or claim against the Bank for any of my/our loss or damage relating thereto except due to the negligence or wilful default of the Bank.

16. I/We acknowledge that I/we have read and understand the negative disclosure notice that the Currency-Linked Deposit (CLD), Structured Deposit and bearer Certificates of Deposit are not protected deposits and are not protected by the Deposit Protection Scheme in Hong Kong.

FATCA and CRS Self Certification

17. I / We undertake to advise the Bank of any change in circumstances which affects the tax residency status of the individual(s) identified in this form or causes the information contained herein to become incorrect, and to provide the Bank with a suitably updated self-certification form within 30 days of such change in circumstances. 


Deposit Protection Scheme Disclosure


The following types of deposit maintained with China CITIC Bank International Limited are deposits qualified for protection by the Deposit Protection Scheme in Hong Kong:

  • Current Account
  • Savings Account
  • Deposit maintained under One Account (One Account “Deposit”)
  • Time Deposit with a maturity not exceeding 5 years
  • Interest Rate Yield Enhancing Deposit
  • Margin Account under Foreign Exchange and Gold Margin Trading Service

Negative Disclosure Notice for Currency-Linked Deposit, Structure Deposit and bearer Certificates of Deposit


Currency-Linked Deposit, Structured Deposit and bearer Certificates of Deposit are not a protected deposit and are not protected by the Deposit Protection Scheme in Hong Kong.


Disclosure statement in respect of the Bank’s independent status


The Bank is NOT an independent intermediary because (1) the Bank receives fees, commissions, or other monetary benefits from other parties. (which may include product issuers) in relation to our distribution of investment products to customers. For details, customers should refer to the Bank’s disclosure on monetary benefits which the Bank is required to deliver to customers prior to or at the point of entering into any transaction in investment products; and/or (2) the Bank receives non-monetary benefits from other parties, or have close links or other legal or economic relationships with issuers of products that the Bank may distribute to customers.


Terms and Conditions for eStatement and eAdvice Service (the “Service”)


These Terms and Conditions are a set of Specific Terms and Conditions referred to in the General Terms and Conditions which I/We have agreed to be bound by. I/We may from time to time use the eStatement and eAdvice Service (the “Service”) supplied by China CITIC Bank International Limited (the “Bank”), and agree that the Service will be subject to these Terms and Conditions, the General Terms and Conditions, Terms and Conditions for i-banking Service and such other terms as may be agreed between me/us and the Bank in relation thereto. I/We can review the most current version of these Terms and Conditions, the General Terms and Conditions, Terms and Conditions for i-banking Service at any time on the website of the Bank at www.cncbinternational.com

1. Definitions and Interpretation 

1.1 In these Terms and Conditions, the following words and expressions shall have the following meanings: 

(a) "Account" means an account maintained by me/us with the Bank; 

(b) "Advice" means any advice, report, confirmation, receipt, record, acknowledgement, notice, message or communication issued or made available by the Bank from time to time in paper form in relation to any Account, service or product offered by the Bank, and excludes a Statement; 

(c) "eAdvice" means an Advice issued or made available by the Bank from time to time in electronic form under the Service; 

(d) "eCorrespondence" means an eStatement or an eAdvice (or both). 

(e) "eStatement" means a Statement issued or made available by the Bank from time to time in electronic form under the Service; 

(f) "Hong Kong" means the Hong Kong Special Administrative Regions of the People’s Republic of China; 

(g) "i-banking Service" means any electronic or internet banking services from time to time supplied by the Bank, which enable me/us to give instructions to the Bank and/or obtain information from the Bank through internet at such website or portal as designated by the Bank from time to time or through such other means as the Bank may from time to time prescribe; 

(h) "Service" means the eStatement and eAdvice service which the Bank may provide pursuant to these Terms and Conditions; 

(i) "Statement" means any statement issued or made available by the Bank from time to time in paper form in relation to my/our Account, service or product offered by the Bank and excludes an Advice; and 

(j) "Telecommunications Equipment" includes mobile telephones, laptop computers, desktop personal computers, pocket personal computers, personal digital assistants and any other electronic media or equipment. 

2. Scopes of the Service 

2.1 I/We should have an i-banking Service with the Bank. I/We may use the Telecommunications Equipment, telecommunications service provider and computer software that is capable of receiving and reading the eCorrespondence, as accepted by the Bank from time to time. 

2.2 The eCorrespondence will be provided to me/us by placing it in my/our i-banking Service as determined by the Bank from time to time. 

2.3 Where an eCorrespondence is placed in my/our i-banking Service, the Bank has no obligation but may notify me/us that the latest eCorrespondence has been made available by sending a message to my/our mobile of one number or email address (or both) on the record. I/We should ensure the email address and mobile phone number on the Bank’s record are at all times valid, up-to-date and capable of receiving the eCorrespondence and any other messages from the Bank. 

2.4 Upon successful subscription to this Service, I/We understand and agree that the Bank will no longer provide the corresponding Statement or Advice in paper form. At my/our request, the Bank may at its discretion but not obliged to provide the corresponding Statement or Advice in paper form. The Bank has the right to charge a fee for providing the corresponding Statement or Advice to me/us. 

2.5 I/We agree to review and check my/our i-banking Service for eCorrespondence regularly and/or upon receiving the message notifying me/us the availability of eCorrespondence in my/our i-banking Services. I/We will advise the Bank promptly of any error, omission, discrepancy, unauthorized debit or irregularity in the entries or transactions shown in each eCorrespondence, whether caused by forged signature or other forgery, fraud, lack of authority or negligence of any person. I/We should notify the above error, omission, discrepancy, unauthorized debit or irregularity within 60 days (where the eStatement is a credit card eStatement) or within 90 days for all other eStatements. I/We understand if the Bank does not receive any such notice within the specified period, the eCorrespondence will be considered as correct, conclusive and binding. 

2.6 I/We understand that an eCorrespondence placed in my/our i-banking Service will only be available for a limited period as determined by the Bank from time to time. The Bank will periodically remove past eCorrespondence from my/our i-banking Service even if I/We have not reviewed, accessed or saved them. I/We confirm that I/We will save the eCorrespondence in my/our own computer storage or print a hard copy of the eCorrespondence for future reference. 

2.7 I/We understand that an eCorrespondence placed in my/our i-banking Service will be considered as having been delivered to me/us at the time it is placed in my/our i-banking Service according to the Bank’s record. 

2.8 I/We confirm that all information provided to the Bank for the purpose of or in connection with the Service is complete, accurate and up-to-date at all relevant times. I/We agree to notify the Bank promptly of any change in the information. 

2.9 Where an Account is in the name of two or more persons, by using the Service, any of those persons may access the Service singly even if I/We have specified to the Bank a different signing arrangement for the Account, and each of us will be bound by these Terms and Conditions. 

2.10 The Bank from time to time is entitled to modify, expand or reduce the scope and features of the Services with or without notice to me/us. In particular, the Bank may from time to time determine, add to or delete from the Service the types of Advices and Statement which will be offered a s eAdvices or eStatements, and the manner in which such eCorrespondence will be provided. 

3. Security 

3.1 I/We understand and accept all possible risks involved in how the Service is provided. Such risks may include that eCorrespondence may be intercepted, monitored, amended, tampered with or disclosed to other parties without my/our authorization. 

3.2 I/We are responsible for the security of my/our Telecommunications Equipment. I/We must take all reasonable precautions to prevent anyone else from accessing any confidential information including the eCorrespondence sent to my/our Telecommunications Equipment. 

3.3 I/We should never provide my/our account or personal data on screen following a website address or hyperlink from an eCorrespondence. All website addresses and hyperlinks authorized by the Bank are for my/our information only and the Bank will not require me/us to provide data in that manner. 

3.4 I/We should check the email address or website address of the sender of the eCorrespondence to ensure that the eCorrespondence is genuine and sent by the Bank. 

3.5 I/We must notify the Bank promptly and in such manner as the Bank may accept from time to time if I/We fail to receive the message as mentioned in section 2.3; fail to receive, access or view any eCorrespondence; or there is any delay in or any other problem with the receiving, accessing or viewing any eCorrespondence from the Bank. 

4. Limitation of Liability and Indemnification 

4.1 The Bank is not liable for loss, damage or expense of any kind which I/We may incur or suffer arising from or in connection with the following: (a) any failure or delay in providing the eCorrespondence for any reason (including as a result of failure or error of any computer or electronic system or equipment); (b) any error or omission in the eCorrespondence; (c) any disclosure of confidential information; (d) any loss or damage to my/our data, software, telecommunication equipment or other equipment arising from or in connection with my/our use of the Service; and (e) any suspension or termination of the Service under any other circumstances. 

4.2 The Bank is not liable for any loss, costs or damage of any kind incurred or suffered by me/us as a result of any interruption, delay or failure (whether total or partial) in providing the Service to me/us to the extent that it is attributable to any cause or circumstance that is beyond its reasonable control or the reasonable control of its agents or nominees (other than any such acts or omissions amounting to negligence or willful misconduct on the part of the Bank). 

4.3 I/We acknowledge there are certain security, corruption, transmission error and access availability risks associated with using the Service and I/we expressly assume such risks. The Bank makes no warranty or representation as to the foregoing. 

4.4 The Bank shall at all times be indemnified, reimbursed and held harmless by me/us from and against any and all claims, demands, causes of actions, liabilities, losses, damages, costs and expense which may at any time be imposed upon, incurred or suffered by, or asserted against the Bank in connection with any acts, omissions or circumstances arising out of or relating to these Terms and Conditions, or any breach by me/us of these Terms and Conditions, or any other matter or transaction contemplated by these Terms and Conditions (other than any such acts or omissions amounting to negligence or willful misconduct on the part of the Bank) 

4.5 The Bank does not warrant or represent that the eCorrespondence provided through i-banking Service is accurate, sufficient, up-to-date or error free. Some of the eCorrespondence available through i-banking Service may be identified on the screens or in any user guide in respect of any electronic media as subject to a disclaimer or other provisions. If I/We rely on that eCorrespondence, I/We do so subject to the disclaimer or those provisions. 

5. Suspension or Termination of Service 

5.1 The Bank reserves the right at any time and from time to time to modify, suspend or discontinue, temporarily or permanently, the Service (or any part thereof) for any reason without notice. In particular, the Bank will terminate the Services upon termination of the iBanking Services by me/us. 

5.2 Suspension or termination by me/us of the Service shall be effective only after written notice of such suspension or termination has been given to the Bank and the Bank has a reasonable opportunity to act upon the notice. 

5.3 Either party may terminate the Service any time by giving a thirty (30) days prior written notification the Bank may terminate the Service without any notice on the grounds that if I/we breach any of my/our obligations under these Terms and Conditions. 

5.4 Any suspension or termination of the Service does not affect the liabilities and rights between the Bank and me/us respectively before the date of suspension or termination. 

6. Fees and Costs 

6.1 I/We agree to pay such charges (if any) for the provision of the Service, as the Bank shall advise me/us from time to time. 

6.2 The Bank may vary its charges and the frequency and dates of payment of such charges on giving me/us not less than thirty (30) days notice. 

6.3 I/We authorize the Bank to debit any of my/our accounts with any charges, if any, for the provisions of this Service. 

7. Miscellaneous 

7.1 The Bank at any time has the right to amend or vary any provisions of these Terms and Conditions (including any fees and charges) by giving prior written notice to me/us in accordance with the requirements of applicable codes and guidelines. I/We will be bound be a variation unless the Bank has received notice to terminate the Service with effect before the date on which that variation takes effect. 

7.2 No act, omission or delay by the Bank shall be a waiver of the Bank’s right or remedy under these Terms and Conditions unless otherwise agreed in writing by the Bank. 

8. Rights of Third Party

8.1 Except as otherwise expressly stated in these Terms and Conditions, no one other than a party to these Terms and Conditions may enforce any of its terms under the Contracts (Rights of Third Parties) Ordinance, Cap. 623 of the Laws of Hong Kong. Where any clause of these Terms and Conditions entitles any third party to enforce any term of these Terms and Conditions under the Contracts (Rights of Third Parties) Ordinance, the parties reserve the right to vary that term or any other term of these Terms and Conditions without the consent of that third party. 

9. Law and Jurisdiction

9.1 These Terms and Conditions shall be governed by and construed in accordance with the laws of Hong Kong and the parties agree to submit to the non-exclusive jurisdiction of the Hong Kong courts. 

10. Governing Version

10.1 The English version of these Terms and Conditions shall prevail wherever there is a discrepancy between the English and the Chinese versions.


Risks for e-Statement / e-Advice service


1. Appropriate computer equipment and software, internet access and a specific email address provided and designated by the customer are required for using the Bank’s e-Statement / e-Advice service.

2. Internet and email services may be subject to certain IT risks and disruption. Customer need to understand and accept all possible risks involved in how the e-Statement / e-Advice service is provided. Such risks may include that eCorrespondence may be intercepted, monitored, amended, tampered with or disclosed to other parties without customer's authorization.

3. The customer may incur additional costs for using the Bank’s e-Statement / e-Advice service.

4. Email will be the customer’s only notice that the advices and statements that are supported by e-Statement / e-Advice service have been posted on the Bank’s website, and the customer should check his/her designated email address regularly for such notice. 

5. Revocation of consent to the Bank’s e-Statement / e-Advice service will be subject to the giving of such advance notice by the customer as the Bank may reasonably require.

6. The customer may be required to pay a reasonable charge for obtaining a hard copy of any Bank’s e-Statement / e-Advice that is no longer available for access and downloading through the Bank’s website.


Important Notes for e-Statement / e-Advice service


1. Email notification will be sent to you on the day of e-Statement / e-Advice delivery to you designated email address maintained in our Bank’s record. Please keep the Bank informed of your current email address to ensure you can receive such email notification.

2. Customer should promptly review the e-Statement / e-Advice posted on the Bank’s website upon receiving the email notification from the Bank to ensure that any errors are detected and reported to the Bank as soon as practicable.


Declaration - eStatement and eAdvice Service


I acknowledged that I have read, fully understand and accept the contents of the Terms and Conditions for eStatement and eAdvice Service and the Risks and Important Notes for eStatement and eAdvice Service and agree to be bound by the same.

Terms and Conditions for Biometric Authentication Login Service





Security Notes


1. This activation will bundle your inMotion Services with the fingerprint(s) or facial map registered on this device. Please double-check to make sure only your fingerprint(s) or facial map is/are registered and the passcode of this device is not disclosed to anybody else.

2. Each customer can activate Biometric Authentication Login on one mobile device at any point in time to login inMotion Services.

3. Do not use the service with a jailbroken or rooted device.


Terms and Conditions for Biometric Authentication Login Service


1. Governing Terms

1.1 These Terms and Conditions are a set of Specific Terms and Conditions referred to in the General Terms and Conditions which I/We have agreed to be bound by. I/We may from time to time using the Biometric Authentication Login Service ("the Service") provided by China CITIC Bank International Limited the ("Bank", which expression shall include all its branches and offices wherever situated, its successors and assigns), and agree the Service will be subject to these Terms and Conditions, the General Terms and Conditions, the Terms and Conditions for inMotion Services and such other terms as may be agreed between me/us and the Bank in relation thereto.

2. Use of the Services

2.1 To use the Services, I/We shall be the customer of the Bank and be a valid user of inMotion Services. I/We shall ensure to have installed the inMotion App on my/our Apple or Android mobile device ("the Application"), I/We also ensure to comply with all the terms and conditions governing the Service.

2.2 The Service is a mobile banking application, available only for using Apple iPhone 5s or above, operating on iOS9 or above, and with Touch ID or Face ID registered; or available only for using Android device operating on OS 5 or above, and with fingerprint authentication. Touch ID is a fingerprint recognition feature and Face ID is a facial map recognition feature, designed and owned by Apple Inc. The Service may not work if the mobile device contains applications not authorized by Apple Inc. or Google Inc. I/We understand the need to protect the mobile device, including but not limited to not rooting or jailbreaking the mobile device. Once the mobile device is successfully registered with the Service, my/our inMotion Services can be logged in with the fingerprint, Touch ID or Face ID registered on the mobile device.

2.3 To register the Service, I/We must go through a registration process by keying in my/our inMotion Services login ID and password, followed by a verification code and an authentication with a fingerprint or facial map registered on the mobile device.

2.4 I/We acknowledge and agree that, for the purpose of the Service, the Application will access the fingerprint registered in Touch ID or the facial map registered in Face ID, and I/We hereby consent to the Bank accessing and using such information for the provision of the Service. I/We understand that if there are any other people's fingerprints or facial map registered as part of the Touch ID or Face ID of my/our mobile device, they will be able to login my/our inMotion Services as well. The Service is provided for my/our sole and exclusive use. I/We understand and acknowledge that I/We should not permit any other person to use the Service.

2.5 If I/We lose my/our mobile device with this activated Service, I/We should change the login password to deactivate the Service or contact the Bank to suspend my/our inMotion Services immediately.

3. Fees

3.1 The Bank has the right to impose charges or to revise at any time such charges for the use or termination of the Service on giving me/us not less than thirty (30) days notice. Such charges or revisions shall take effect from the date stated in the notice. I/We understand and acknowledge that whenever I/We continue to use the Service after such notification, I/We shall be deemed to have agreed to and accepted such charges or revisions to such charges.

3.2 The Bank may collect fees from me/us in such manner and at such intervals as the Bank may specify.

4. Confirmation

4.1 I/We confirm that by registering to use the Service that all information provided to the Bank at that time is true, complete and up-to-date. I/We should also ensure that all information provided to the Bank from time to time remains true, complete and up-to-date and notify the Bank of any change in the information as soon as reasonably practicable.

4.2 I/We confirm that not do or attempt to do the following (or any of them): (i) decompile, reverse-engineer, translate, convert, adapt, alter, modify, enhance, add to, delete or in any way tamper with the Service (or any part of the Service); and (ii) gain access to the Service (or any part of the Service) in any manner other than specified by the Bank.

5. Liability and Indemnity

5.1 The Bank expressly excludes any guarantee, representation, warranty, condition, term or undertaking of any kind, whether express or implied, statutory or otherwise, relating to or arising from the use of, the Service or in relation to the processing of or any other matter relating to any Service request ("Request"). Without prejudice of the foregoing, I/We understand and acknowledge the acceptance by the Bank of my/our submission of a Request does not amount to a presentation or warranty by the Bank:

i. the Service will meet my/our requirements;

ii. the Service will always be available, accessible, function or inter-operate with any network infrastructure, system or such other services as the Bank may offer from time to time; or 

iii. the use of the Service or the Bank's processing of any Request will be uninterrupted timely, secure or free of any virus or error.

5.2 The Bank shall not be liable for any and all losses, liabilities, costs, expenses, damages, claims, actions or proceedings of any kind whatsoever (whether direct, indirect or consequential) in respect of any matter of whatever nature and howsoever arising (whether in contract, tort, negligence or otherwise) in connection with:

i. the provision by the Bank of the use of the Service or the Application;

ii. the processing of any Request;

iii. any unauthorised access and/or use of the mobile device;

iv. the use in any manner and/or for any purpose whatsoever by any person at any time whatsoever and from time to time of any information or data: (a) relating to me/us; (b) transmitted through the use of the Service or the Application; and/or (c) obtained through the use of the Service or the Application;

v. any event the occurrence of which the Bank is not able to control or avoid by the use of reasonable diligence; and/or the suspension, termination or discontinuance of the Service.

5.3 The Bank shall not be liable and I/We agree to indemnify the Bank and keep the Bank indemnified against any consequences, claims, proceedings, losses, damages or expenses (including all legal costs on any indemnity basis) whatsoever and howsoever caused that may arise or be incurred by the Bank in providing the Service, whether or not arising from or in connection with and including but not limited to the following:

i. any improper or unauthorized use of the Service or the Application by me/us;

ii. any act or omission by any relevant mobile or internet service provider;

iii. any delay or failure in any transmission, dispatch or communication facilities;

iv. any access (or inability or delay in accessing) and/or use of the Service or the Application; or

v. any breach of warranty under or provision of these Terms and Conditions.

5.4 The Bank shall be entitled to exercise any of its rights and remedies under these Terms and Conditions for inMotion Services (including the right to withdraw, restrict, suspend, vary or modify the inMotion Services (whether in whole or in part)).

6. Termination

6.1 The Bank may suspend or terminate all or any of the Services at any time without giving any notice or reason.

6.2 I/We can terminate the use of the Service at any time via the means provided by the Bank.

6.3 I/We understand, even after suspension or termination of the Service, that I/We remain responsible from performing and discharging the obligations and liabilities created or accrued before suspension or termination. Clauses 3, 4 and 5 of these Terms and Conditions shall continue to apply even after suspension or termination of the Service by me/us or by the Bank.

7. Variation

7.1 The Bank shall have the right to vary these Terms and Conditions from time to time. I/We understand that I/We can obtain such notice from the Internet and/or other manner as the Bank thinks appropriate. I/We understand that I/We will be bound by the variation if I/We do not receive notice from the Service with effect before the date on which that variation takes effect.

8. Rights of Third Party(ies)

8.1 Except as otherwise expressly stated in these Terms and Conditions, no one other than a party to these Terms and Conditions may enforce any of its terms under the Contracts (Rights of Third Parties) Ordinance, Cap. 623 of the Laws of Hong Kong.  Where any clause of these Terms and Conditions entitles any third party to enforce any term of these Terms and Conditions under the Contracts (Rights of Third Parties) Ordinance, the parties reserve the right to vary that term or any other term of these Terms and Conditions without the consent of that third party.

9. Law and Jurisdiction

9.1 These Terms and Conditions shall be governed by and construed in accordance with the laws of Hong Kong and the parties agree to submit to the non-exclusive jurisdiction of the Hong Kong courts.

10. Version

10.1 The English version of these Terms and Conditions shall prevail wherever there is a discrepancy between the English and Chinese versions. 

(May 2018) 

Terms and Conditions for Bank Services relating to Faster Payment System





1. Bank Services relating to Faster Payment System

  1. China CITIC Bank International Limited (中信銀行(國際)有限公司) (the “Bank”) provides the Bank Services to customers to facilitate payments and funds transfers using the Faster Payment System. The Faster Payment System is provided and operated by HKICL. The Bank Services are therefore subject to the rules, guidelines and procedures imposed by HKICL in relation to the Faster Payment System from time to time. These Terms and Conditions govern the provision to you and your use of the Bank Services. The Bank Services form part of the banking services.  These Terms and Conditions are a set of Specific Terms and Conditions referred to in the General Terms and Conditions which you have agreed to be bound by, and supplement and form part of the General Terms and Conditions, and other terms and conditions applicable to this Bank Services including Terms and Conditions for iBanking Services and the Terms and Conditions for Corporate Online Banking Service ("Existing Terms"). The provisions of the Existing Terms continue to apply to the Bank Services to the extent that they are relevant and not inconsistent with the provisions in these Terms and Conditions.  Unless otherwise specified, the provisions of these Terms and Conditions prevail if there is any inconsistency between them and the provisions of the Existing Terms with respect to the Bank Services. 
  2. By requesting the Bank to register any Proxy ID for you in the HKICL FPS or to set up any eDDA for you using the HKICL FPS, or by initiating any payment or funds transfer using the HKICL FPS, you will be regarded as having accepted and will be bound by the provisions of these Terms and Conditions. You should not request the Bank to register any Proxy ID or set up any eDDA for you and should not initiate any payment or funds transfer using the HKICL FPS unless you accept the provisions of these Terms and Conditions.
  3. In these Terms and Conditions, the following terms have the following meanings:

    "Addressing Service" means a service provided by HKICL as part of HKICL FPS to facilitate customers of Participants to use predefined Proxy ID instead of account number to identify the destination of a payment or funds transfer instruction and other communications for the purpose of HKICL FPS.

    "Bank Services" means the services (including the QR Code Services) provided by the Bank to customers from time to time to facilitate payments and funds transfers using HKICL FPS and the Addressing Service, eDDA Service and any other services and facilities provided by HKICL in connection with the Faster Payment System from time to time.

    "Default Account" means the account maintained by you with the Bank or any other Participant and set as the default account for receiving payment or funds using HKICL FPS or (if and to the extent specified or permitted by the rules, guidelines and procedures of HKICL) for debiting payment or funds using HKICL FPS.

    "eDDA" means a direct debit authorisation set up by electronic means using HKICL FPS.

    "eDDA Service" means a service provided by HKICL as part of HKICL FPS to facilitate customers of Participants to set up direct debit authorisation.

    "FPS Identifier" means a unique random number generated by HKICL FPS to be associated with the account of a customer of a Participant.

    "HKICL" means Hong Kong Interbank Clearing Limited and its successors and assigns.

    "HKICL FPS" or "Faster Payment System" means the Faster Payment System and related facilities and services provided, managed and operated by HKICL from time to time for (i) processing direct debits and credits, funds transfers and other payment transactions and (ii) exchanging and processing instructions relating to eDDA Service and Addressing Service.

    "Hong Kong" means the Hong Kong Special Administrative Region of the People's Republic of China.

    "Participant" means a participant of HKICL FPS which may be a bank or other financial institution, a retail payment system operator, a licensed stored value facility, or any other person accepted by HKICL as a participant of HKICL FPS from time to time.

    "Proxy ID" means the identifiers which may be accepted by HKICL for registration in the Addressing Service to identify the account of a customer of a Participant, including the mobile phone number or email address of the customer, or the FPS Identifier.

    "QR Code Services" means the QR code and the associated payment and funds transfer services provided by the Bank to customers from time to time.

    "Regulatory Requirement" means any law, regulation or court order, or any rule, direction, guideline, code, notice or restriction (whether or not having the force of law) issued by any regulatory authority, governmental agency (including tax authority), clearing or settlement bank or exchange, or industry or self-regulatory body, whether in or outside Hong Kong, to which HKICL, the Bank or any other Participant or the respective affiliates or group companies, or you are subject or are expected to comply with from time to time.

    "you" and "your" means each customer to whom the Bank provides Bank Services and, where the context permits, includes any person authorised by the customer to give instructions or requests to the Bank in connection with the use of the Bank Services.

2. Scope of Bank Services and conditions for use

  1. The Bank provides the Bank Services to customers to facilitate payment and funds transfer using the Faster Payment System and the Addressing Service, eDDA Service and any other services and facilities provided by HKICL in connection with the Faster Payment System from time to time. The Bank has the right to set or vary from time to time the scope of the Bank Services and the conditions and procedures for using the Bank Services. In order to use the Bank Services, you have to accept and follow these conditions and procedures. 
  2. The Bank may provide the Bank Services to facilitate payment and funds transfer in any currency specified by the Bank from time to time, including Hong Kong dollars and Renminbi.
  3. In order to enable the Bank to handle an instruction for you in relation to payment or funds transfer using HKICL FPS, you have to provide or input the necessary information and complete the process by such means or in such manner prescribed by the Bank from time to time.
  4. All payment or funds transfer transactions using HKICL FPS will be processed, cleared and settled under the interbank clearing and settlement arrangements including without limitation the arrangements in relation to the Faster Payment System agreed by the Participants and HKICL from time to time.
  5. The Bank reserves the right to suspend or terminate the Bank Services in whole or in part at any time without giving notice or reason.

3. Addressing Service - registration and amendment of Proxy ID and related records

  1. In order to use the Addressing Service to receive payment or funds transfer using HKICL FPS, you have to register your Proxy ID in the HKICL FPS.  The Bank has discretion as to whether to offer the FPS Identifier as Proxy ID to you.
  2. Registration and amendment of Proxy ID and related records in the HKICL FPS must be done in accordance with the applicable rules, guidelines and procedures imposed by HKICL from time to time. In order to enable the Bank to register or amend Proxy ID or any related records for you, you have to provide or input the necessary information and complete the registration process by such means or in such manner prescribed by the Bank from time to time.
  3. At any time where the same Proxy ID is registered by you for more than one account (whether maintained with the Bank or with any other Participant), you must set one account as the Default Account. By instructing the Bank to set or change the Default Account for you, you consent and authorise the Bank to submit the request on your behalf to HKICL FPS to override the existing Default Account registered in HKICL FPS.

4. eDDA Service

In order to enable the Bank to handle a request for you in relation to eDDA setup, you have to provide or input the necessary information and complete the process by such means or in such manner prescribed by the Bank from time to time. The prescribed process may include requiring the relevant parties to set up the eDDA using their respective account numbers or customer identification numbers or codes. For the avoidance of doubt, a Proxy ID is not intended for verifying eDDA setup. Any amendment of a Proxy ID and the related records or termination of a Proxy ID after an eDDA setup will not affect that eDDA.

5. Your responsibility

  1. Present genuine owner or authorised user of Proxy ID and accounts
    You can only register your own Proxy ID for your own accounts or set up eDDA for your own accounts. You must be the present genuine owner or authorised user of each Proxy ID and each account provided to the Bank for registration in the Addressing Service and the eDDA Service. By instructing the Bank to register any Proxy ID or any account for you in relation to the Faster Payment System, you confirm that you are the present genuine owner or authorised user of the relevant Proxy ID or account. This is particularly important for mobile phone numbers as they may be recycled in Hong Kong.
  2. Proxy ID
    Any Proxy ID to be registered by you for the Addressing Service must satisfy any applicable requirements imposed by HKICL from time to time. For example, HKICL may require the mobile phone number or email address to be registered as Proxy ID to be the same number or address registered by you as contact information on the records of the Bank at the relevant time. You understand and agree that the Bank, other Participants and HKICL have the right and discretion without giving notice to deregister any Proxy ID that is not correct or up-to-date in accordance with available information without your consent.
  3. Correct information
    1. You have to ensure that all the information provided by you for registration or amendment of Proxy ID (or any related records) or for any eDDA setup is correct, complete, up-to-date and not misleading. You have to notify the Bank as soon as reasonably practicable of any changes or updates to such information by such means or in such manner specified by the Bank from time to time.
    2. You are fully responsible for using the correct and up-to-date Proxy ID and related records in giving each payment or funds transfer instruction. You are solely liable for and will hold the Bank harmless from any incorrect payment or transfer effected by the Bank and HKICL FPS due to incorrect or outdated Proxy ID or related records.
  4. Timely updates
    You are fully responsible for giving instructions and information changes or updates to the Bank on a timely basis for amending your Proxy ID (or related records) or any eDDA setup, including without limitation changing your Default Account, or terminating any Proxy ID or eDDA. You acknowledge that keeping your Proxy ID, eDDA and all related records up-to-date is critical for ensuring effective execution of payment and funds transfer instructions and for avoiding incorrect payment or transfer due to incorrect or outdated Proxy ID, eDDA or related records.
  5. Change of Default Account
    If an account is terminated as the Default Account by you or by the relevant Participant for any reason (including suspension or termination of the account), the system of HKICL will automatically assign the most recently registered record in the Addressing Service that is associated with the same Proxy ID to be the Default Account. If you wish to set another account as the Default Account, you have to change the registration through the Participant where you maintain that other account.
  6. Transactions binding on you
    1. For any payment or funds transfer, once you confirm the details of a transaction and submit instruction to the Bank, such instruction and any resulting transaction is final, irrevocable and binding on you.
    2. For any Proxy ID registration or eDDA setup, once you submit an instruction to the Bank, such instruction is irrevocable and binding on you. You may amend or cancel any Proxy ID or eDDA setup in accordance with the procedures and requirements prescribed by the Bank from time to time.
  7. Use Bank Services responsibly
    You must use the Bank Services in a responsible manner. In particular, you have to comply with the following obligations:
    1. You must comply with all Regulatory Requirements that govern your use of the Bank Services, including collecting, using and handling the personal data and other information relating to any other person in compliance with the Regulatory Requirements protecting data privacy. You must not use the Bank Services for any unlawful purposes or any purposes other than those authorised or contemplated in the rules, guidelines and procedures of HKICL.
    2. In sending remarks or messages to be displayed to recipients or counterparties of your payment or funds transfer instructions or eDDA setup using HKICL FPS, you should mask the name or other data of such recipients or counterparties to prevent unauthorised display or disclosure of any personal data or confidential data.
    3. If the Bank offers the FPS Identifier as Proxy ID to you, you should not repeatedly cancel the registration and request for generation of another FPS Identifier in an attempt to generate a number or value that you desire.
  8. Other obligations regarding payments and funds transfers
    Any instruction given by you in relation to the Bank Services will be handled by the Bank in accordance with these Terms and Conditions and the applicable provisions in the Existing Terms. You have to comply with the other obligations with respect to payments, funds transfers and direct debit authorisations, including without limitation maintaining sufficient funds in the relevant accounts for settling payment and funds transfer instructions from time to time.
  9. You are responsible for your authorised persons
    Where you authorise any other person to give instructions or requests to the Bank in connection with the use of the Bank Services (whether you are an individual, a company, a corporation, or a sole proprietorship or partnership firm or any other unincorporated body):
    1. you are responsible for all the acts and omissions of each person authorised by you;
    2. any instruction or request received by the Bank, believed by the Bank in good faith to be given by you or any person authorised by you, will be irrevocable and binding on you; and
    3. you are also responsible for ensuring that each person authorised by you will comply with the provisions of these Terms and Conditions that are applicable to him/her when acting on your behalf.

6. Responsibility and restriction of liability

  1. The Bank will process and submit your instructions and requests to HKICL FPS in accordance with the applicable rules, guidelines and procedures imposed by HKICL from time to time. HKICL FPS has the right to process and execute your instructions and requests in such sequence or manner as HKICL considers appropriate. The Bank has no control over the operation of HKICL FPS nor the timing on which your instructions or requests are executed by HKICL FPS. Where the Bank receives status update notifications involving any of your Proxy ID (or related records) or eDDA setup or any other matter relating to HKICL FPS from or through HKICL FPS from time to time, the Bank will notify you accordingly by such means and at such time as the Bank considers appropriate.
  2. Without reducing the effect of Clause 6(a) above or the provisions of the Existing Terms:
    1. the Bank is not liable for loss, damage or expense of any kind which you or any other person may incur or suffer arising from or in connection with the use of the Bank Services or the processing or execution of instructions or requests given by you in relation to the Bank Services or HKICL FPS, except to the extent that any loss, damage or expense incurred or suffered is direct and reasonably foreseeable arising directly and solely from its negligence or wilful default or that of its officers, employees or agents;
    2. for clarity, the Bank is not liable for loss, damage or expense of any kind which you or any other person may incur or suffer arising from or in connection with one or more of the following:
      1. your failure to comply with your obligations relating to the Bank Services; and
      2. any delay, unavailability, disruption, failure, error of or caused by HKICL FPS, or arising from any circumstances beyond its reasonable control; and
    3. in no event will the Bank, its affiliates or group companies, its licensors, and its and their respective officers, employees and agents be liable to you or any other person for any loss of profit or any special, indirect, incidental, consequential or punitive loss or damages (whether or not they were foreseeable or likely to occur).
  3. Your confirmation and indemnity
    1. Without reducing the effect of any indemnity given by you under the Existing Terms or any other rights or remedies that the Bank may have, you will indemnify the Bank and its officers, employees and agents and hold each of them harmless against all liabilities, claims, demands, losses, damages, costs, charges and expenses of any kind (including legal fees on a full indemnity basis and other expenses reasonably incurred) which may be incurred or suffered by the Bank or any of them and all actions or proceedings which may be brought by or against the Bank or any of them as a result of or in connection with the provision of the Bank Services or your use of the Bank Services.
    2. The above indemnity does not apply to the extent that it is proved that any liabilities, claims, demands, losses, damages, costs, charges, expenses, actions or proceedings are direct and reasonably foreseeable arising directly and solely from the negligence or wilful default of the Bank or that of its officers, employees or agents. The above indemnity shall continue to have effect after the termination of the Bank Services.

7. Collection and use of Customer Information

  1. For the purposes of using the Bank Services, you may be required to provide the Bank with the personal data and other information relating to one or more of the following persons from time to time:
    1. yourself;
    2. the recipient of any payment or funds transfer to be made by you, or the counterparty of any eDDA to be set up by you; and
    3. where you are a company, a corporation, or a sole proprietorship or partnership firm or any other unincorporated body, any of your directors, officers, employees, authorised persons and representatives,

    all personal data and information provided to the Bank or compiled by the Bank from time to time in connection with the Bank Services are collectively referred to as "Customer Information".
  2. You agree (and, where applicable, for and on behalf of each of your directors, officers, employees, authorised persons and representatives) that the Bank may collect, use, process, retain or transfer any of the Customer Information for the purposes of the Bank Services. These purposes include without limitation one or more of the followings:
    1. providing the Bank Services to you, maintaining and operating the Bank Services;
    2. processing and executing your instructions and requests in relation to the Bank Services from time to time;
    3. disclosing or transferring the Customer Information to HKICL and other Participants for their use for the purpose of the operation of HKICL FPS;
    4. meeting the requirements to make disclosure under any Regulatory Requirements; and
    5. purposes relating to any of the above.
  3. You understand and agree that the Customer Information may be further disclosed or transferred by HKICL, the Bank or any other Participants to their customers and any other third parties who are users of HKICL FPS for the purposes of providing and operating the Addressing Service and the eDDA Service.
  4. If the Customer Information includes personal data or other information of any person other than yourself (including any persons specified in Clauses 7(a)(ii) or 7(a)(iii) above), you confirm that you will obtain and has obtained the consent from such person regarding the use (including disclosure and transfer) of his/her personal data and other information by HKICL, the Bank and the other Participants as specified in this Clause.

8. QR Code Services

  1. This Clause 8 applies to the use of the QR Code Services, together with the Existing Terms and any other terms and conditions that apply to the mobile application ("App") through which you access the QR Code Services.
  2. Using the QR Code Services and your responsibility
    1. The QR Code Services allow you to scan a QR code provided by the Bank or by another person to automatically capture the payment or funds transfer data without the need for manually entering the data.  Any QR code provided by another person must meet the specifications and standards prescribed by HKICL in order to be accepted. You are fully responsible for ensuring that the captured data is accurate and complete before confirming any payment or funds transfer instruction. The Bank is not responsible for any error contained in such payment or funds transfer data.
    2. The QR Code Services can be used on a mobile device running an operating system supported and specified by the Bank from time to time.
    3. Updates to the QR Code Services may be issued periodically through the supplying app store for the App. For some devices, updates will be downloaded automatically. For other devices, you will need to download the updates yourself.  Depending on the update, you may not be able to use the QR Code Services until the latest version has been downloaded. You are fully responsible for ensuring the latest version has been downloaded to your mobile device for the purpose of using the QR Code Services.
    4. The QR Code Services are intended for use by the customers of the Bank only. The Bank has the right to cancel your account for the App and/or block you from accessing the QR Code Services if the Bank discovers that you are not eligible to use the QR Code Services.
    5. The QR Code Services are not intended for use in any jurisdiction where their use would be contrary to any law or regulation of that jurisdiction or where the Bank is not licensed or authorised to provide the QR Code Services. 
    6. You must comply with all applicable laws and regulations that govern your download of the App, or access or use of the App or the QR Code Services.
  3. Security
    1. You must not use the QR Code Services on any device or operating system that has been modified outside the mobile device or operating system vendor supported or warranted configurations. This includes devices that have been "jail-broken" or "rooted".  A jail broken or rooted device means one that has been freed from the limitations imposed on it by your mobile service provider and the phone manufacturer without their approval.  The use of the QR Code Services on a jail broken or rooted device may compromise security and lead to fraudulent transactions.  Use of the QR Code Services in a jail broken or rooted device is entirely at your own risk and the Bank will not be liable for any losses or any other consequences suffered or incurred by you as a result.   
    2. You are fully responsible for all instructions or requests given by you or any other person authorised by you during the use of the QR Code Services.
    3. You are fully responsible for ensuring that the information shown or stored on your mobile device is kept secure.
    4. If you know or suspect that any other person knows your security details, or has used or tried to use them, or if your mobile device is lost or stolen, you must notify the Bank as soon as reasonably practicable.
  4. The Bank’s responsibility and restriction of liability
    1. While the Bank makes commercially reasonable efforts to provide the QR Code Services, the Bank is not liable for any failure to provide the QR Code Services.
    2. The QR Code Services are provided on an “as is” basis with no representation, guarantee or agreement of any kind as to their functionality. The Bank cannot guarantee that no viruses or other contaminating or destructive properties will be transmitted or that no damage will occur to your mobile device in the use of the QR Code Services.  The Bank is not responsible for any loss you may incur as a result of your use of the QR Code Services.
    3. You understand and agree that:
      • You use the QR Code Services at your sole risk. To the maximum extent permitted by law, the Bank expressly disclaim all warranties and conditions of any kind, whether express or implied.
      • You download or obtain any material or information through the use of the QR Code Services at your sole risk and discretion. You are solely responsible for any damage to your computer or other device or loss of data resulting from downloading, obtaining or using such material or information.
    4. For the avoidance of doubt, nothing above is intended to exclude or restrict any condition, warranty, right or liability which may not be lawfully excluded or restricted.
General Terms & Conditions | Personal Information Collection Statement | Privacy Policy Statement | Disclaimer | Online Security | Regulatory Disclosures | Code of Banking Practice