Compliance & Regulation

Macau's Monetary Authority Expands Greater Bay Area Wealth Management Scheme

The Monetary Authority of Macau (AMCM) has updated the guidelines for the Cross-boundary Wealth Management Connect Scheme in the Greater Bay Area.

These revisions include an increase in the maximum investment limit, an expansion in the types of service providers, and a wider variety of financial products available for investment, MacauBusiness.com said in a news report.

The new rules elevate the ceiling for individual investment from RMB 1 million to RMB 3 million. Additionally, the scope of service providers has been widened to include brokerage firms, previously restricted to banks, aiming to diversify the range of service options.

The range of wealth management products accessible to investors has been broadened to encompass deposits, bonds, equity funds, and public mutual funds. For those opting to invest through both banks and brokerages, there is a separate maximum investment limit of RMB 1.5 million for each channel.

This scheme enables residents of Hong Kong and Macau to invest in mainland Chinese investment products, while residents from nine cities in Guangdong can invest in wealth products from Hong Kong and Macau.

By December 2023, the scheme had given authorization to 10 local banks to provide these services. These include the Bank of China Macau Branch, Bank of Communications Macau Branch, China Construction Bank Macau Branch, China Guangfa Bank Macau Branch, CMB Wing Lung Bank, Industrial and Commercial Bank of China (Macau), Luso International Banking, Tai Fung Bank, and OCBC Wing Hang Bank.