investment

The central bank and five other departments: Support the lawful cross-border purchase of qualified investment products sold by financial institutions in Hong Kong and Macau

ChainCatcher news, according to Jinshi reports, the People's Bank of China and four other departments jointly issued the "Opinions on Promoting Institutional Opening in the Financial Sector in Conditional Free Trade Pilot Zones (Ports) to Align with International High Standards." The "Opinions" propose 20 policy measures in six areas: allowing foreign financial institutions to provide similar new financial services as domestic financial institutions, making decisions on applications for related services by financial institutions within 120 days, supporting the legal cross-border purchase of certain types of overseas financial services, facilitating foreign investors' investment in related transfers in and out, improving arrangements for the cross-border flow of financial data, and comprehensively strengthening financial regulation.These include continuously optimizing the "Cross-Border Wealth Management Connect" pilot in the Guangdong-Hong Kong-Macao Greater Bay Area, supporting residents in the Greater Bay Area to purchase qualified investment products sold by Hong Kong and Macao financial institutions through these institutions, and expanding the scope of participating institutions and qualified investment products.
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