China’s Greater Bay Area: Regulatory Development & Entry Strategy

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Manni Huang

Manni Huang

Associate Director, Account Management, Asia

Explore Expansion Potential

In June 2020, the Peoples’ Bank of China, Hong Kong Monetary Authority, and the Monetary Authority of Macao jointly announced development of the Greater Bay Wealth Management Connect pilot scheme to facilitate cross-boundary investments of residents in the Guangdong-Hong Kong-Macao Greater Bay Area. Under the scheme, Mainland residents will be able to access eligible investment products distributed by banks in Hong Kong and Macau, while Hong Kong and Macau residents will be able to tap investment offerings from Mainland banks.

Do You Know?

Under the scheme, Hong Kong financial institutions may have access to access more than 70 million people in the Guangdong Hong Kong-Macao area.


Highlights of the scheme:

  • Mainland residents will be able to access eligible investment products distributed by banks in Hong Kong and Macau, while Hong Kong and Macau residents will be able to tap investment offerings from Mainland banks

  • Retail wealth management products under the scheme will be governed by the respective local laws and regulations as well as follow international best practices

  • Cross-boundary remittances will be conducted and managed in a closed-loop system through the bundling of the designated investment and remittance accounts to ensure the funds are invested only in eligible products

  • There will be aggregate and individual investor quotas in place


Inform Your Approach

If capturing opportunity in the Greater Bay Wealth Management Connect program is a priority, Cerulli can help you understand ongoing regulatory development in the region, identify potential regulatory changes that would drive the development of the Greater Bay Area, and position your products for asset gathering.

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Asia Pacific

Subject Matter Experts

Ken Yap, CFA

Ken Yap, CFA

Managing Director, Asia

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Ken Yap, CFA

Ken Yap, CFA

Managing Director, Asia

Ken Yap is managing director of Cerulli’s Asia Pacific office. He oversees Cerulli’s business development strategy and research initiatives in the region. For 19 years, Ken has worked with asset managers, distributors, and financial institutions, identifying expansion opportunities with his deep knowledge of the market. He specializes in product development and market entry strategies into Asia’s established and emerging markets.

Prior to leading the Singapore office, Ken covered local and global asset management and distribution trends in Cerulli’s London and Boston offices. Before joining Cerulli, Ken was a consultant at Analysys’ Cambridge office in the U.K.

Full biography here.

Kangting Ye

Kangting Ye

Senior Analyst

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Kangting Ye

Kangting Ye

Senior Analyst

Based in Singapore, Kangting leads Cerulli’s China research practice, and has provided primary quantitative analysis for various Asian publications and projects.

Prior to joining Cerulli Associates, Kangting held internships with Unilever and China Construction Bank.

Full biography here.

Kean Yung Siau

Kean Yung Siau

Analyst

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Kean Yung Siau

Kean Yung Siau

Analyst

Kean Yung specializes in retail asset management and environmental, social, and governance (ESG) investing in Cerulli’s Asia-Pacific research practice. He is a lead analyst for the China market, providing quantitative support for the annual report as well as The Cerulli Edge—China Edition. He also provides support to other Asian reports and The Cerulli Edge edition covering the Asia-Pacific region.

Prior to joining Cerulli Associates, Kean Yung was a Business Risk Specialist at UBS Wealth Management. His role was to ensure that front- line staff in Hong Kong and Singapore complied with regulators and internal requirements regarding investment suitability criteria when dealing with high-net-worth (HNW) clients.

Full biography here.

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  • Annual report
  • Cerulli Edge
  • Cerulli Lodestar

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