HSBC Hong Kong names Industrial Bank as third Mainland WMC partner

HSBC’s Southbound offering includes more than 200 products.

HSBC Hong Kong has named Industrial Bank Co., Ltd. as its third Mainland Partner Bank under the Cross-boundary Wealth Management Connect (WMC), effective 29 September.

With this addition, HSBC and its Mainland partners now offer over 500 wealth products to investors under both Southbound and Northbound WMC channels.

HSBC’s Southbound offering includes more than 200 products, covering over 30 unit trusts (160 share classes across 10 currencies), 50+ bonds, and multi-currency deposit options in 11 currencies.

The bank said this new agreement makes it the only Hong Kong bank currently partnered with three leading Mainland institutions supporting both WMC directions.