The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

As Wealth Connect launches, China risk rises

Last week, four global banks unveiled cross-border wealth management services under the banner of Wealth Connect, but with the crisis at Evergrande unresolved and growth slipping, the scheme comes at a tricky moment.


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.

Assuming Beijing does not take a backward step on liberalization – a situation that is currently not impossible to imagine – Wealth Management Connect, or ‘Wealth Connect’ as it is known, is here to stay.

We have covered the scheme before, and some of its basics are unaltered: Wealth Connect has a total size or quota of Rmb300 billion ($47 billion); and investors living in the GBA are restricted to investing no more than Rmb1 million of their personal wealth in lower-risk products such as equity and bond funds.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?