Fastest by the end of the year! Cross-border wealth management platform 3.0 plans to expand its geographical coverage.

On September 11, Hong Kong Financial Secretary Paul Chan disclosed that with the support of central ministries, the scope, product types, and participant groups of the "Wealth Management Connect" scheme will be expanded in a timely and moderate manner to enhance market vitality. According to interviews with reporters, regulatory authorities in both regions are currently conducting research to explore the optimization of the Wealth Management Connect 3.0 version, and it is expected that the draft for public comments will be released at the end of this year at the earliest. Diao Zhihai, head of international wealth management business at CITIC Securities, stated in an interview with Securities Times that the industry is looking forward to the optimized 3.0 version, especially expanding the coverage beyond the Greater Bay Area, including at least Beijing and Shanghai in the pilot program, as investors in these two cities have a strong demand for overseas investments.