Greater Bay's Wealth Connect to draw family offices to Hong Kong
Wealth experts believe the rollout of Wealth Connect could help to entice wealthy individuals and then family offices to establish operations in the city, especially if initial quotas are raised.
Hong Kong is expected to receive a fresh injection of interest from family offices following the launch of an anticipated new scheme that eases cross-border investments through wealth management products in the Greater Bay Area.
On Thursday (May 6), China's regulators announced new draft rules for the cross-border Wealth Management Connect scheme. The country set a Rmb150 billion ($23.2 billion) ceiling for the trading quota (southbound and northbound) for the pilot scheme, a move…
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