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Cross-boundary Wealth Management Connect Services

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What is Cross-boundary Wealth Management Connect?

Cross-boundary Wealth Management Connect (WMC) provides cross-boundary financial and wealth management services. Individual investors in the Guangdong-Hong Kong-Macau Greater Bay Area ("GBA") can purchase eligible cross-boundary wealth management products offered by banks in the GBA.

Cross-boundary WMC has a southbound and a northbound stream, depending on the residency of the investors. Southbound Service is available to residents in mainland China cities to purchase wealth management products issued or distributed by eligible Hong Kong banks. Northbound Service is available to residents in Hong Kong and Macau to purchase wealth management products issued or distributed by eligible mainland China banks.

Key features

Hang Seng Bank Limited (referred to as "Hang Seng Hong Kong") partners with our wholly owned subsidiary, Hang Seng Bank (China) Limited (referred to as "Hang Seng China") to offer wealth management options under Cross-boundary WMC Southbound and Cross-boundary WMC Northbound Service.

The Cross-boundary WMC Southbound Service products are distributed by Hang Seng Hong Kong while those for Cross-boundary WMC Northbound Service are distributed by Hang Seng China.

Distributing banks in the GBA are providing non-complex wealth management products, including deposits, investment funds and bonds/CDs.

Remittance under Cross-boundary WMC will be conducted and managed in a closed loop through the one-to-one pairing of designated remittance and investment accounts to ensure that the relevant funds will only be used to invest in eligible wealth management products.

The aggregate quota of Cross-boundary WMC Southbound and Northbound Service is RMB 150 billion in each direction. The individual investor quota is RMB 3 million. If the investor simultaneously selects both a bank and a securities firm for investment, the individual investor quota allocated between the bank and the securities firm will be RMB 1.5 million each.

Transactions carried out by investors through Cross-boundary WMC Southbound Service and Cross-boundary WMC Northbound Service are subject to the protection of the laws and regulations of Hong Kong and mainland China respectively.

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Useful information

Need more help?

Hang Seng Hong Kong

Mainland China partner bank - Hang Seng China

Cross-boundary WMC Hotline

(852) 2912 3456 (Hong Kong)[1]

(86) 4001 20 3456 (mainland China)[1][2]

Visit designated GBA branches of Hang Seng China

All GBA branches of Hang Seng China (except Huizhou and Jiangmen)

Visit designated branches of Hang Seng Hong Kong

All street-level branches of Hang Seng (except outlets in MTR stations & university branches)

Hang Seng China Cross-boundary WMC website

Footnote

Remark(s)

  1. Office hour of Cross-boundary WMC Hotline is Monday to Friday, 9 a.m. to 6 p.m., except weekend and Hong Kong Public Holiday.
  2. The toll-free enquiry hotline allows you to contact us for free even while staying in mainland China. The toll-free hotline can be accessed from mobile lines, fixed telephone lines, payphones and call cards and is free of IDD charges.
    Please contact the relevant service supplier for details. Customer agrees to be bound by the terms and conditions for the service provided by service providers, which may be amended from time to time. For any claims, disputes and complaints regarding such service and information, customer should refer directly to service providers. Hang Seng Bank Limited (Hang Seng Hong Kong) assumes no responsibilities for such service.

Important point(s) to note

  1. The content of this webpage is for general information and reference only. It is not, and is not intended to be, a solicitation, recommendation, or advice on, or offer of, any investment services or products. Investors should note that all investments involve risks (including the possibility of loss of the capital invested). Prices or value of investment products may go up as well as down and past performance is not indicative of future performance. Investors should not only base on this material alone to make investment decisions, but should read the relevant offering documents of the investment products (including the full text of the risk factors stated therein) and risk disclosure statements of the relevant investment products in detail before making any investment decision. Investors should carefully consider whether an investment is suitable for them in view of their own investment objectives, investment experience, investment tenor, financial situation, risk tolerance abilities, tax implications and other needs, etc., and should understand the nature, terms and risks of the investment products. Investors should obtain independent professional advice if they have concerns about their investment. The content of this webpage has not been reviewed by any regulatory authority in Hong Kong.
  2. RMB currency risk
    RMB is subject to foreign exchange control and restrictions by the Chinese central government. There may be additional rules, regulations and restrictions under contemplation or to be issued by any authorities in mainland China that may be relevant to RMB conversion. The Customer should take reasonable steps to check for updates and details before giving instructions for RMB conversion.
    The exchange rate of RMB may vary from time to time. There is no guarantee that RMB will not depreciate. The exchange rate of RMB traded outside mainland China (“Offshore RMB”) will be affected by, amongst other things, foreign exchange control imposed by the Chinese central government from time to time. The Customer will incur currency conversion costs (being the spread between the purchase and sale of Offshore RMB) and be subject to exchange rate fluctuation risks in any such currency conversion.
  3. Foreign exchange risk
    If the eligible products that are traded by the Customer are not denominated in RMB, the Customer may have to convert RMB into the relevant foreign currency when the Customer invests in that foreign currency denominated eligible product. The Customer will be exposed to exchange rate risk. Besides, if the relevant foreign currency is subject to exchange control, it is possible that the Customer may not receive the relevant foreign currency upon redemption or sale of the relevant foreign currency denominated eligible products. The relevant foreign currency denominated eligible products may also be subject to liquidity risk, credit and insolvency risks of the product issuers.
  4. Risk Disclosure of Investment Funds
    Investors should note that all investments involve risks (including the possibility of loss of the capital invested), prices or value of investment fund units may go up as well as down and past performance information presented is not indicative of future performance. Investors should read carefully and understand the relevant offering documents of the investment funds (including the fund details and full text of the risk factors stated therein) and the Notice to Customers for Fund Investing before making any investment decision. Investment funds are investment products and some may involve derivatives. Investors should carefully consider their own circumstances whether an investment is suitable for them in view of their own investment objectives, investment experience, preferred investment tenor, financial situation, risk tolerance abilities, tax implications and other needs, etc., and should understand the nature, terms and risks of the investment products. Investors should obtain independent professional advice if they have concerns about their investment.
  5. Important Risk Warning of Bond or Certificate of Deposit Product
    • Bonds and Certificates of Deposit (CDs) are investment products. The investment decision is yours but you should not invest in a bond/CD unless the intermediary who sells it to you has explained to you that the bond/CD is suitable to you having regard to your financial situation, investment experience and investment objectives. Your intermediary is under a duty to assure that you understand the nature and risks of this product, and that you have sufficient net worth to be able to assume the risks and bear the potential losses of trading in this product.
    • Bonds are not deposits and should not be treated as substitute for conventional time deposits.
    • Certificate of Deposit is not a protected deposit and is not protected by the Deposit Protection Scheme in Hong Kong.
    • Investors who purchase bonds/CDs are exposed to the credit risk of the issuer and guarantor (if any) of the bonds/CDs. There is no assurance of protection against a default by the issuer/guarantor in respect of the repayment obligations. In the worst case scenario, any failure by the issuer and the guarantor (if any) to perform their respective obligations under the bonds/CDs when due may result in a total loss of all of your investment.Renminbi (RMB) is not a freely convertible currency. As such, investors trading bonds and/or CDs denominated in RMB are subject to additional risks (such as currency risk).
    • The above is not an exhaustive list of risk factors. Please refer to the section on “Risk Factors” in the relevant “Bond / Certificate of Deposit Trading Services” Factsheet to understand other risk factors applicable to bonds and CDs.
    • The information displayed does not constitute nor is it intended to be construed as any professional advice, offer, solicitation or recommendation to deal in Bonds / CDs. Investors should be aware that all investments involve risks (including the possibility of loss of the capital invested). The prices of Bonds and CDs may go up as well as down and past performance is not indicative of future performance. Investors should not only base on this information alone to make investment decisions, and should carefully consider whether an investment is suitable for them in view of their own investment objectives, investment experience, investment tenor, financial situation, risk tolerance abilities, tax implications and other needs, etc., and should read the relevant product offering documents and terms and conditions (including the full text of the risk factors therein) in detail before making any investment decisions. Investors should obtain independent professional advice if they have concerns about their investment.
    • No guarantee, representation, warranty or undertaking, express or implied, is made as to the fairness, accuracy, timeliness, completeness or correctness of any general financial and market information, news services and market analysis, projections and/or opinions (“Market Information”) provided above and the basis upon which any such Market Information have been made, and no liability or responsibility is accepted by the Bank in relation to the use of or reliance on any such Market Information whatsoever provided in the webinar.
    • Investors must make their own assessment of the relevance, accuracy and adequacy of the information provided and make such independent research/investigations as they may consider necessary or appropriate for the purpose of such assessment. The Bank does not make any representation or recommendation or assessment as to whether or not any of the investment(s) mentioned are suitable or applicable to any persons and thus shall not be held responsible in this regard.
  6. Hang Seng China is incorporated in mainland China and is not an authorized institution in Hong Kong as defined in the Banking Ordinance (Cap. 155 of the Laws of Hong Kong) and is not subject to the supervision of the Hong Kong Monetary Authority. Hang Seng China cannot carry on in Hong Kong any banking business or business of taking deposits. Any deposits maintained with Hang Seng China are not protected under the Deposit Protection Scheme in Hong Kong.
  7. This website is provided by Hang Seng Bank Limited (the “Bank”). The Bank is regulated and authorised to carry out banking activities in Hong Kong SAR. The products and services represented within this website are intended for Hong Kong customers.
    This website is not intended for distribution or use by any person in any jurisdiction, country or region where the distribution or use of this material is restricted and would not be permitted by law or regulation. If you are outside of Hong Kong, we may not be authorised to offer or provide you with the products and services available through this website in the country or region you are located or resident in.