Chinese banks visited Dawan District in September to negotiate business. Invited Chen Delin to bring a group to try first

Since the publication of the “Guangdong, Hong Kong and Macao Dawan District Development Plan” in February this year, the market has been expecting more details

According to the news, the Chinese banking sector in Hong Kong will visit Guangdong Province and Shenzhen in early September to exchange views on local financial openness policies with local institutions. It is reported that the delegation will invite the President of the HKMA, Mr. Chen Delin, to lead the discussion. It is expected to cover a wide range of topics, such as the cross-border use of Hong Kong e-wallets for personal business, cross-border mortgages and account opening issues, and hope that some projects can be piloted in Hong Kong. .

It is understood that the delegation of the Hong Kong Chinese Banking Community Dawan District will be led by Chen Delin and the Chairman of the Hong Kong Chinese Banking Association, Gao Yingxin

It is planned to visit Guangdong Province and Shenzhen from September 4th to 6th to visit local regulatory agencies and related The department has already sent a letter to invite member banks of the China Banking Association to participate. Chen Zhenying, vice president of the association, responded by confirming that the delegation is planning to visit Dawan District in September. The details of the exchange topic are still under study.

Promote cross-border use of e-wallets

The industry expects that the delegation will seek opportunities to learn from and discuss with the mainland regulators and relevant departments on the different issues of the banking industry in Hong Kong. For personal business, I believe that I hope that we will implement more cross-border use of e-wallets in Hong Kong as soon as possible, further allowing banks in the two places to conduct witness accounts and cross-border mortgages. As for corporate banking, I believe that we will propose to expand the scope of enterprises that can be financed by the Mainland.

After the introduction of the Dawan District Development Plan, there has not been much detail in the banking business. Although some of the e-wallet companies in Hong Kong have indicated that they can be used in the Mainland, they have not seen widespread popularity. BOC Hong Kong (02388) was approved by the Mainland regulatory authorities at the beginning of the year. It can launch a proxy testimony in Hong Kong to open a personal banking account in the Mainland. After that, no new business has been approved. The industry hopes that cross-border use of e-wallets in Hong Kong and cross-border opening of residents in the two places. There can be further development, and it is expected that the relevant demands will be reflected during the visit.

Allowing Mainland property mortgages

In the past, banks in Hong Kong have been hoping to provide mortgages for Hong Kong residents who are buying property in the Mainland. Market participants pointed out that it is more difficult for banks to provide mortgages for Hong Kong people’s mainland properties. Because property collateral is required to be registered by the Mainland Housing Regulatory Commission, the relevant practices in the cities of Dawan District are different. For example, Dongguan can allow relevant Other cities may not allow it. It is estimated that the industry hopes to use this visit to propose whether the cities in the Mainland can unify relevant policies.

Market participants also claim that if Hong Kong people buy property in the Mainland to create mortgages in Hong Kong, the public and banks will benefit. Although some banks are currently lending in the form of personal credit loans, they are providing loans to Hong Kong residents in the Mainland. The capital requirement for a personal loan is higher than that of a secured mortgage, and the loan interest rate is correspondingly higher. If the Hong Kong people mortgage the mainland property in Hong Kong, the loan interest rate will be lower. However, Hong Kong people use mainland assets as collateral for overseas borrowing and involve the approval of the SAFE. It is expected that the visiting delegation will also exchange relevant issues with relevant Mainland authorities.

The industry believes that the development planning policy of the Greater Bay Area may involve a number of regulatory agencies and departments. It may not be implemented in the short term. I believe that the delegation hopes that through this exchange, some projects that are easier to implement will be able to take the lead. Try to launch in Hong Kong.


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