The central bank and five other departments: Support cross-border purchases of qualified investment products sold by financial institutions in Hong Kong and Macao in accordance with the law

Odaily Planet Daily News: The People's Bank of China and five other departments jointly issued the "Opinions on Piloting the Docking of International High Standards in the Financial Sector in the Conditional Free Trade Pilot Zone (Hong Kong) to Promote Institutional Opening". The "Opinions" proposed 20 policy measures in six aspects, including allowing foreign financial institutions to carry out new financial services of the same type as Chinese financial institutions, making decisions on applications for financial institutions to carry out related services within 120 days, supporting the cross-border purchase of certain types of overseas financial services in accordance with the law, facilitating foreign investors' investment-related transfers in and out, improving arrangements for cross-border flows of financial data, and comprehensively strengthening financial supervision. These include continuously optimizing the "Cross-border Wealth Management Connect" pilot in the Guangdong-Hong Kong-Macao Greater Bay Area, supporting mainland residents in the Guangdong-Hong Kong-Macao Greater Bay Area to purchase qualified investment products sold by Hong Kong and Macao financial institutions through Hong Kong and Macao financial institutions, and expanding the scope of participating institutions and the scope of qualified investment products. (Jinshi)