The launch ceremony for the "Cross-border Wealth Management Scheme" was held on October 19 at the Bank of China Tower. Six banking institutions including the BOC Zhongshan Branch awarded commemorative plaques to the first batch of customers.

The day before, the Guangzhou Branch of the People's Bank of China released a list of the banks registered with the Cross-border Wealth Management Scheme. As one of the first pilot cities, Zhongshan has 16 banking institutions approved to join the scheme.

Under the Cross-border Wealth Management Scheme, investors from the Mainland (Hong Kong and Macao) within the Greater Bay Area are allowed to invest in eligible investment or wealth management products provided by banking institutions in Hong Kong and Macao (the Mainland) through a closed-loop capital channel established by the GBA banking system.

The implementation of the pilot scheme in Zhongshan is of great significance for residents in Zhongshan, Hong Kong and Macao to access high-quality financial services. It is also important in promoting the interconnection of financial markets in these regions and further serving the economic reach of Zhongshan.

On October 19, several banks signed up for the Cross-boundary Wealth Management Scheme.