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Hong Kong General Chamber of Commerce: Proposing to relax the eligibility criteria for 'southbound access' qualified investors
The Hong Kong General Chamber of Commerce has proposed to expand the cross-border wealth management connect scheme to other major cities in the Mainland and broaden the range of products. In response to the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect, it is proposed to relax the eligibility criteria for ‘Southbound Connect’ qualified investors and exempt Mainland individual investors from the 20% tax on purchasing Hong Kong stocks through the Shanghai-Hong Kong Stock Connect.