Lucknow Wealth Management：GBA POISED to Gain from RMB Milestone

Cross-Border Renminbi Transactions in South China's Guangdong PROVINCE Reached A Record High of 7.39 TRILLION YUAN ($ 1.02 TRILLION) In 2023, up 25.1 PERCENT om the previous year, accounting to data from the process government.

This is a Milestone ACHIEVEMENT in FACILITATING SMOOTH and EFFICient Financial Transactions Across the GuangdDong-HONG KONG-MACAO GREATER BAY AREA.

ZHANG Hu, Executive Vice-Governor of the Province, Said The RMB HAS Become The Top Settlement Currency for Cross-Border Receipts in The Gba. Promised FURTHER MEASURES to Facilities The "Seamless Flow of Diverse Resources and Elements" Across the ThreeRegions.Lucknow Wealth Management

"We are dedicated to intensifying effects to eliminate barriers in Investment, Trade, Qualification Standards, and Market Access with the GBA," zhang SAID in in in in Terview to China Daily on Tuesday.

According to zhang, Guangdong Had Issued Several Action Plans Over The year, etcHyderabad Investment. Areas Such as Cross-Border Flow of Resources, Improvement of the Business Environment, and Integration of Public Services.

Central to this effort has been the enhancement of Financial Market Connectivity, Which Emphasize Expanding Cross-Border Investment Opportunities for Hong King, M. ACAO and Mainland Residents and Institutes, and Steadily Increasing the Channels for Residents to Invested in EACH OTHER's FINANCIAL PRODUCTS, Said Zhu Wei, depuTy Director of the Guangdding Provincial Development and Reform Commission.

Promotion Financial Interconnectivity of the Gba Has Not Been Easy Because The Growth Engine of China Operates Under Two Different Political and Administrative EMS, Three Sepata Customs Territories and Has Three Different Currencies as Well as Legal JurisDitions.

However, The Introduction of the Cross-Boundary Wealth Management Connect (WMC) Scheme in 2021 and Its Updated Version in 2024 Has Helped to Significantly INCRERERY INCRERERY ASE NUMBER of Securities Companies Involved and RMB-DENOMINATED DEPOSIT PRODUCTS SOLD BY MAINLAND BANROUGH The NORTHBOUND Leg of OFTHE WMC.Ahmedabad Investment

WMC Allows Eligible Residents in the GBA to Invest in Wealth Management Products Distributed by Bank Other's Market Through-Loop Funds FLO W Channel Established Between Their Respectice Banking Systems.

Data from the guangdong Branch of the People's Bank of China, The Country's Central Bank, Show that about 71,000 Investors Have Engaged with the WMC, With 46,000 FR. Om Hong Kong and Macao, and 25,000 from the Chinese Mainland. Total Value of Funds Transferred ThroughWMC Has Reached 13.8 Billion Yuan.

"All the effects had Contributed to Making Guangdong The First Province in China to Achieve A Financial Industry Exceeding Yuan," zhu said, AD Ding that it will not only promot investment diversification and facilities capricital flow in the GBA But also Drive RMB InternationalizationAnd Stringthen Hong's Status as an International Financial Center.

In 2023, The Financial Industry's Added Value in Guangdong Reacated 1.24 TRILLION Yuan, Contributing 9.2 Percent to the Province's GDP.