| Investor Qualification |
Have full civil capacity；
GBA residents OR any those who have contributed at least two consecutive years of social insurance / individual income tax in the 9 GBA Mainlandcities；
Have 2 years or more of investment experience and meets one of the following 2 conditions: the month-end balances of family financial net assets inthe past 3 months are not less than RMB 1 million, or the average annual income in the past three years is no less than RMB 400,000.
Not assessed as vulnerable customers* for all investment products as specified in related guidelines by the HKMA.* As specified in related guidelines issued by the HKMA, if an investor has a lower ability to understand the risks and accept the potential losses of investments, s/he may be considered to be vulnerable. An example of “vulnerable customer” includes an investor with disability(ies) affecting his/her investment decisions (e.g. visually impaired). Other examples include those fulfilling of one or more of the following criteria, coupled with the lack of investment experience: •Above 65 years old •Level of education below Secondary •With limited financial capacity | Account Opening | Step 1: Open WMC Southbound Remittance Account Use your existing Hang Seng China Type I Account to activate the functions of WMC Southbound Remittance Account at designated Hang Seng China branches OR Open a WMC Southbound Remittance Account at designated Hang Seng China branches with the required documentsStep 2: Open WMC Southbound Investment Account After completing the above, our staff at Hang Seng China will help you make an appointment to visit one of the designated branches in Hong Kong.You will need to bring along the required documents to open a WMC Southbound Investment Account at the designated Hang Seng branch in Hong Kong OR If you choose to apply the WMC Southbound Investment Account via Witness Account Opening, please provide the required information inadvance and then proceed to the designated Hang Seng China branches to open the account and submit the required documents. |
Cross-border Remittance and Quota Managementand Quota Management |
The “WMC" business implements quota management for individual investors, with an investment quota of RMB 3 million. If an investor chooses to invest through banks and securities companies at the same time, the investment quota for both channels is RMB 1.5 million each. Subject to meeting the “WMC" quota control requirements, eligible investors can make quota adjustments in person at the designated branches of Hang Seng China. Remittances can be made between the WMC remittance account in Mainland China and WMC Southbound Investment Account in Hong Kong via “Cross-Border View and Transfer” in Personal e-Banking, subject to compliance with the relevant WMC remittance and quota requirements in a closed-loop fund regime You can check Hang Seng HK and Mainland accounts, and submit remittance instruction anytime and anywhere by registering with Hang SengChina or Hang Seng Hong Kong“Cross-Border View and Transfer” service. For more details, please visit Cross-Border Banking. |
Available WMC investment products |
Customers of WMC Southbound Service can make deposits in RMB and other foreign currencies, and subscribe to eligible investment products offered by Hang Seng Bank, including investment funds and bonds. Cross-boundary WMC will be governed by the laws and regulations on retail wealth management products applicable in Hong Kong and Mainland China. Southbound investment funds:•Authorized by the Securities and Futures Commission of Hong Kong •Incorporated in Hong Kong •Non-complex products •Invest primarily in Greater China stocks; or •Rated as low to medium-high risk (excluding high-yield bond funds and single emerging market equity funds) Southbound investment bonds/deposit certificate:•Investment terms range from 1 to 10 years. •"Low" risk to "Medium" risk. •Non-complex structure. •Government and corporate bonds/certificates of deposit. Southbound deposit products:•RMB, HKD and foreign currency deposit products. |
Service Application |
Hang Seng China account opening form WMC Southbound service application form |
Designated Service Network |
WMC supporting branches of Hang Seng China WMC supporting branches of Hang Seng Hong Kong Hang Seng China Service Hotline： 400-830-8008 (Mainland China) 800-906-882 (For customers reside in HK) Hang Seng Hong Kong Service Hotline：(852) 2912 3456 (Hong Kong) (86) 4001 20 3456 (Mainland) |
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