Wealth Management Connect: China’s US$46.5 billion cross-border channel gives Hong Kong a leg up in the Greater Bay Area

China’s regulators will expand the cross-border investment channel with Hong Kong and Macau to encompass wealth management products, in a long-awaited move that will enhance Hong Kong’s standing as the offshore financial centre of the world’s second-largest capital market.The Wealth Management Connect will formally kick off between Hong Kong, Macau, and the nine provincial cities in Guangdong known collectively as the Greater Bay Area (GBA), according to a statement by the Hong Kong Monetary…