UBS, HSBC Urge China to Expand Wealth Links With Hong Kong
- HKMA, UBS say quota isn’t enough for private bank clients
- Wealth Connect program was expanded earlier this year
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Hong Kong’s central bank chief and executives at UBS Group AG and HSBC Holdings Plc called for the expansion of wealth links between the city and mainland China, months after a key initiative was bolstered.
The Hong Kong Monetary Authority is in talks with the industry about potential further increasing the Wealth Management Connect program to accommodate the needs of richer investors, Chief Executive Eddie Yue said at the Bloomberg Wealth summit in the city on Wednesday.