Hong Kong Commercial News: A spokesperson for the HKMA said Hong Kong regulators have maintained close, regular communication with mainland regulators. In response to the SFC circular requiring brokers to take additional measures for opening and managing accounts for mainland investors, the HKMA has also asked banks to adopt similarly high business standards.
The spokesperson said the banking sector has already implemented the latest regulatory requirements in the HKMA notice to ensure account-opening procedures are compliant and orderly. Mainland customers continue to apply for account opening, and overall the process is running smoothly.
The spokesperson also said that, as an international financial center, Hong Kong banks have long provided professional services to customers from different regions while ensuring their business remains lawful and compliant. These optimization measures help consolidate Hong Kong's advantages as an international financial center.
The HKMA stressed that Hong Kong banks have always maintained strict account-opening procedures to ensure compliance and orderly business operations, as part of ongoing regulatory requirements. Mainland residents can allocate assets and invest in eligible wealth-management products through various lawful cross-border investment channels, including Cross-boundary Wealth Management Connect, or invest through mainland brokers via the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect.
