What accounts are included in the Southbound Scheme?
The Southbound Scheme has two main accounts:
- Remittance account:
This is opened at Industrial Bank (a partner bank in the Chinese Mainland). It is used for sending CNY money (to the Investment account) and bringing it back (to this remittance account).
- Investment account:
This is opened at ZA Bank in Hong Kong. It is used only for buying qualified wealth management products.
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