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Core Viewpoint - The Hong Kong Monetary Authority is discussing the 3.0 version of the Cross-Border Wealth Management Connect, which may include changes in quotas, product range, sales processes, and the possibility of expanding from the nine pilot cities in the Greater Bay Area to other cities nationwide [1][3]. Summary by Sections Current Status of Cross-Border Wealth Management Connect - The number of accounts for investing in global products through the Cross-Border Wealth Management Connect has increased from 25,000 to 95,000 [2]. - As of February, the number of individual investors participating in the program from the Greater Bay Area has risen by 3,832 to 145,300, with a total cross-border fund transfer amount reaching 105.64 billion yuan [2][5]. Developments in Cross-Border Wealth Management Connect 3.0 - Discussions for the 3.0 version are focusing on potential changes in product range and participating cities [4]. - The current product range includes fixed income and equity investment products, public funds with risk levels R1 to R4, and RMB deposit products for the northbound channel, while the southbound channel includes Hong Kong-registered funds primarily investing in Greater China [4]. Participation and Fund Flow - The current participant scope includes Hong Kong residents and residents from the nine cities in the Greater Bay Area who have lived there for at least two years [4]. - As of February, the cross-border fund transfer amount through domestic banks was 18.14 billion yuan, accounting for 68.3% of the total, while securities companies handled 8.41 billion yuan, making up 31.7% [6]. Fund Quotas and Usage - As of March 26, 2025, the southbound channel has a net outflow of 15.46 billion yuan, with 10.31% of the quota used, leaving a remaining quota of 134.54 billion yuan [6]. - The northbound channel has a net inflow of 25.04 million yuan, with only 0.17% of the quota used, leaving a remaining quota of 149.75 billion yuan [6].