On the 6th, the Information Office of the Guangdong Provincial People's Government held a press conference in Guangzhou. Guo Yunxi, Vice President of the Guangzhou Branch of the People's Bank of China, stated that as of the end of February 2023, 31 banks in the nine mainland cities of the Guangdong Hong Kong Macao Greater Bay Area had participated in the pilot of the "Cross border Wealth Management Connect" business, providing relevant services to 43600 individual investors, involving 18600 cross-border fund transfers with a total amount of 2.666 billion yuan. Among them, RMB 2.097 billion was transferred from the "South to North" fund, and RMB 569 million was transferred from the "North to North" fund. Since 2021, after the pilot launch of the "Cross border Wealth Management Connect" in the Guangdong Hong Kong Macao Greater Bay Area, investors from Guangdong, Hong Kong and Macao have extensively participated, and the market response has been enthusiastic. In 2022, the pilot scope was orderly expanded, pilot banks were smoothly launched, and the number of investors and fund transfers steadily increased, becoming a major highlight of smooth financial connectivity in the Guangdong Hong Kong Macao Greater Bay Area and promoting the integration of rules and mechanisms in the Greater Bay Area. In 2023, with the resumption of normal customs clearance between Hong Kong, Macao, and mainland China, the "Cross border Wealth Management Connect" business has ushered in new opportunities, with some pilot banks experiencing significant growth in the "South Link" business in February. Guo Yunxi stated that investors have a high enthusiasm for participating in the "Cross border Wealth Management Connect" business. At present, there are 12100 mainland investors participating in the "South Link" and 31500 Hong Kong and Macao investors participating in the "North Link". Among them, the number of investors from Hong Kong and Macao has increased by 1.3 times compared to the end of 2021, and the growth rate is 2.2 times that of mainland investors. It is reported that the 31 pilot banks in mainland China cover institutions such as state-owned banks, joint-stock banks, and foreign-funded banks. Among them, 8 pilot banks have established business cooperation relationships with banking institutions in Hong Kong and Macau at the same time, and 20 pilot banks have simultaneously opened "South Link" and "North Link" services. As of the end of February 2023, the market value balance of investment products purchased by individual investors participating in the "Cross border Wealth Management Connect" was 673 million yuan. Among them, under the "Northbound Link", the market value balance of domestic investment products held by individual investors from Hong Kong and Macao is 239 million yuan; Under the "Nanxiangtong" program, the market value balance of Hong Kong and Macao investment products held by mainland individual investors is 434 million yuan. (New News Agency)