Hong Kong Monetary Authority: The banking sector has implemented the latest regulatory requirements to ensure that the account opening process is compliant and orderly.

According to the website of Radio Television Hong Kong, a spokesperson for the Hong Kong Monetary Authority stated that the Hong Kong regulatory authorities have been maintaining close and constant communication with mainland regulatory authorities. In response to a circular from the Securities and Futures Commission of Hong Kong requiring securities firms to take additional measures in opening and managing accounts for mainland investors, the Monetary Authority has also simultaneously required banks to adopt high business standards similar to those of the Securities and Futures Commission. The spokesperson stated that the banking industry has already implemented the latest regulatory requirements issued by the Monetary Authority, ensuring compliance and orderliness in the account opening process. The Hong Kong Monetary Authority emphasized that Hong Kong banks have always had strict account opening procedures, conducting business in a regulated and orderly manner, as required by ongoing supervision. Mainland residents can allocate assets and invest in qualified wealth management products through various legal cross-border investment channels, including the cross-border wealth management connect, or invest through mainland brokerages via the "Shanghai-Hong Kong Stock Connect" and "Shenzhen-Hong Kong Stock Connect."