Mainland-Hong Kong wealth management connect to be capped at 300 billion yuan, said official

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China is moving a step closer to easing capital controls within the Greater Bay Area by setting the amount of fund flows allowed under an investment scheme with Hong Kong and Macau from early next year.

Authorities on both sides of the borders have set an aggregated quota of 300 billion yuan ($45 billion) in fund movements in both directions between the nine cities in southern Guangdong province and the two special administrative regions.

Beijing, Hong Kong and Macau have also limited individual investors to 1 million yuan worth of investment products they can each . . .

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