Paul Chan: Wealth management connect to be launched soon

The wealth management connect in the Guangdong-Hong Kong-Macao Greater Bay Area will be launched in the near term, an official of the SAR government said on Friday (June 11).

Financial Secretary Paul Chan Mo-po made the remarks when delivering a speech at a forum in Hong Kong and said the program, which allows investors in the Greater Bay Area to make cross-border investments in wealth management products, will create enormous opportunities for the financial sector.

The southbound trading of Bond Connect is also ready and will open soon, he said.

Chan stressed Hong Kong's financial advantage in linking the mainland markets with the rest of the world.

Hong Kong is the most favored global financing platform for mainland companies, serves as an offshore renminbi business hub, and bridges the mainland and global markets with multiple programs including stock and bond connect.

Chan also unveiled that Hong Kong will issue HK$175.5 billion (US$22.62 billion) of green bonds in the next five years.

(Source: China Daily)