Hong Kong Financials Top ten Q&A on cross-border wealth flows

研报英文原文证据摘录

Hong Kong Financials Top ten Q&A on cross-border wealth flows

29 June 2026

Equities

Financials Hong Kong Financials

Top ten Q&A on cross-border wealth flows Hong Kong

◆ We answer the top ten questions about wealth flows into Gary Lam*, CFA

Hong Kong from mainland China following the new measures Head of Greater China Financials Research The Hongkong and Shanghai Banking Corporation Limited

gary.lam@hsbc.com.hk

◆ The impact on banks looks limited, but we expect more +852 2996 6926

guidance on insurance sales and distribution Joanna Chan*, CFA

Analyst, Asia Financials and Fintech

The Hongkong and Shanghai Banking Corporation Limited

◆ Prefer BOCHK and HKEX in financials, and Sino Land, SHK joanna.ct.chan@hsbc.com.hk

Properties and Henderson Land in developers (all Buy-rated) +852 2288 4826

Raymond Liu*, CFA

Analyst, Asia Real Estate and Conglomerates

1. Is the new regulation driven by capital outflow concerns, even though the The Hongkong and Shanghai Banking Corporation Limited

RMB has recently appreciated? These measures are mainly about tightening up raymond.w.m.liu@hsbc.com.hk

+852 2996 6743

compliance with capital account rules, rather than managing the RMB. They may

Yiwei Liu*

also help keep more investment onshore. Associate, China Banks

2. What is the likely scope of the new regulations? They target mainland Chinese yi.wei.liu@hsbc.com.hk

cross-border investment flows by more closely monitoring where the funds originate, +852 2996 6635

and may tighten insurance sales; core deposits/banking are less directly impacted.

* Employed by a non-US affiliate of HSBC Securities (USA) Inc, and is

3. Did mainland China and Hong Kong coordinate during the recent regulatory not registered/ qualified pursuant to FINRA regulations