Effective September 29th, HSBC Hong Kong has expanded its involvement in the Cross-boundary Wealth Management Connect (WMC) by adding Industrial Bank Co., Ltd. as its third partner bank in Mainland China. With this new agreement, HSBC now offers a combined total of over 500 wealth products to investors utilizing the WMC’s Southbound and Northbound channels. HSBC emphasized that its Southbound WMC portfolio alone includes over 200 products, such as more than 30 unit trusts, over 50 bonds, and multi-currency deposit options. The bank highlights that this new partnership distinguishes it as the sole Hong Kong bank to have secured agreements with three major Mainland institutions for support in both directions of the WMC scheme.
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