And they’re off and running in China.
On October 19, both HSBC and Standard Chartered launched cross-border wealth management services aimed at wealthy individuals living in the Greater Bay Area (GBA), which spans Hong Kong, Macau and central Guangdong province.
At the same time, Citi announced a strategic tie-up with Guangzhou-based China Guangfa Bank, while DBS Bank’s Hong Kong arm has unveiled a partnership with Postal Savings Bank of China.
The models may differ, but for both banks the aim is the same: to profit from a new lifting – even if it is by just a few millimetres – of the country’s great financial curtain.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
