DBS Hong Kong unit and Postal Savings Bank of China tie up for wealth management connect program


Source: shentonwire.net shentonwire.net

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DBS Bank (Hong Kong) and the Postal Savings Bank of China (PSBC) have tied up to offer services under the new Wealth Management Connect program allowing cross-border investments in the Greater Bay Area, the banks announced Tuesday in a press release. The program, launched in September and called the Cross-boundary Wealth Management Connect Scheme in the Guangdong-Hong Kong-Macau Greater Bay Area (GBA) allows mutual market access programs between capital markets in Hong Kong, Macau and the mainland. Under the program, eligible residents of those areas can invest in wealth management products distributed by banks in each other’s markets, with individual...