HSBC Hong Kong and Industrial Bank (601166.SH) have signed a memorandum of cooperation for "Cross-border Wealth Management Connect".

On August 14, HSBC Hong Kong and Industrial Bank (601166.SH) signed a Memorandum of Understanding on cooperation in Shenzhen to jointly promote the development of the financial market in the Greater Bay Area of Guangdong, Hong Kong, and Macao. The Memorandum of Understanding aims to deepen cooperation in cross-border finance and interbank finance by leveraging the complementary advantages of both parties and synergistic development. By digitizing and enhancing the customer experience, personalized comprehensive wealth management solutions will be provided to customers, and efforts will be made jointly to match investor risks and safeguard consumer rights. The Memorandum of Understanding was witnessed by Wu Yangyuru, General Manager and Head of Wealth Management and Personal Banking Business of HSBC Hong Kong, and Zhang Min, Deputy General Manager of Industrial Bank. It was signed by Xu Changhong, Head of Customer and Market Planning for Wealth Management and Personal Banking Business in the Hong Kong region, and Zhang Chang, General Manager of the Retail Platform Department of Industrial Bank. Wu Yangyuru stated that as a systemically important bank in mainland China, Industrial Bank has 45 primary branches nationwide and 2086 operational outlets, with a wide customer base and strong business expansion capabilities in the 9 cities of mainland China in the Greater Bay Area. If both parties can complement each other's advantages, it will bring significant benefits to customers. Zhang Min mentioned that with the rich experience of HSBC in the international financial markets, it will provide Industrial Bank with more globalized investment products and services. The cooperation between the two parties will achieve resource sharing and complementary advantages, jointly providing higher-quality financial services for residents in the Greater Bay Area and meeting their diverse investment needs.