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The number skyrocketed.

Cross-border LiCaiTong 2.0 was officially implemented on February 26th, and March is the first month of the new rules. The latest cross-border LiCaiTong data released by the Guangdong Branch of the people's Bank of China showed that in March, the number of new investors reached 24288, an increase of 916% over the previous month.AsiangameshangzhouIt sets a historical record since the opening of the service.

"the new rules are reduced.AsiangameshangzhouThe threshold for participation and the quota of investors have been raised, which may be the main reason for the increase in the number of investors. " Some industry insiders told Chinese reporters of securities firms that. It is reported that securities firms are also actively layout, and will formally participate in this business later.

The number of new people increased by 916% compared with the previous month.

On April 23rd, the Guangdong Branch of the people's Bank of China issued a circular on the cross-border LiCaiTong business in March 2024. Statistics show that the number of individual investors in Guangdong-Hong Kong-Macau Greater Bay Area's "cross-border LiCaiTong" increased by 24288 in March. In February 2024, there were only 2391 new investors. In other words, the number of new people increased by 916% in March compared with the previous month. Over the past year, the average monthly increase has been about 2500.

It is reported that the number of new people in March reached an all-time high, the largest increase since the launch of the service, and the absolute number is several times that of other months.

Further, among the 24288 new people, 1051 new people from Hong Kong and Macao participated in Beixiang Link, banks handled 454 cross-border remittance of northbound funds, and the amount of cross-border remittance was 18 million yuan. An additional 23237 people from the mainland participated in the southbound Link, and banks handled 20120 cross-border remittance business of southbound funds, with a cross-border remittance amount of 13.088 billion yuan.

In the view of industry insiders, the surge in the number of new people in March may be related to policy adjustments. March is the first month of the new policy. On February 26th, the new version of Cross-Border LiCaiTong was officially implemented. Compared with the previous version 1.0, the new version of Cross-Border LiCaiTong not only reduces the access conditions for investors and increases the quota for individual investors, but also broadens the scope of business pilot projects to better meet the diversified investment needs of residents in the Greater Bay area.

It is reported that the threshold for mainland investors to participate in cross-border LiCaiTong 2.0 "southbound access" business has been lowered from "five years" to "two years" for continuous payment of social security or personal income tax. At the same time, increase "the average annual income of not less than 400000 yuan in the past three years" as one of the alternative conditions for family financial assets access. In addition, the individual quota of investors has been appropriately increased. Increase the investment quota of individual investors from 1 million yuan to 3 million yuan.

By the end of March 2024, Guangdong-Hong Kong-Macau Greater Bay Area had participated in 97700 "cross-border LiCaiTong" individual investors, including 47400 Hong Kong and Macao investors and 50300 mainland investors, involving 69800 cross-border remittances of related funds, totaling 28.389 billion yuan.

From the perspective of investment position products, by the end of March 2024, the market value balance of investment products purchased by individual investors participating in "cross-border LiCaiTong" was 16.441 billion yuan. Among them, under the northbound link, the market value balance of domestic investment products held by individual investors in Hong Kong and Macao is 201 million yuan, including 122 million yuan in financial products and 79 million yuan in fund products; under the southbound link, the market value balance of investment products held by mainland individual investors in Hong Kong and Macao is 16.24 billion yuan, including 224 million yuan in investment funds, 25 million yuan in bonds, and 15.991 billion yuan in deposits.

As for the quota, as of 24:00 on April 23, there was a net outflow of 31.739 billion yuan from the south of cross-border financial management, with a used quota of 31.739 billion yuan (21.16%) and a remaining quota of 118.261 billion yuan. Cross-border LiCaiTong northward net inflow of 242 million yuan, the used quota of 242 million yuan (0.16%), the remaining quota of 149.758 billion yuan.

Securities firms seek layout

At present, only banking institutions participate in cross-border LiCaiTong, while cross-border LiCaiTong 2.0 expands the scope of participating institutions, and securities firms are also included. Brokerage Chinese reporters learned that a number of brokerages are actively applying for preparation, waiting for regulatory approval, can formally participate in this business.

Among these brokerages, there are not only large head brokerages, but also small and medium-sized ones. However, the preparation progress of various securities firms varies, some brokerages have submitted application materials, while others are still in the research stage. As for the timing of the final launch of the business, some brokerage personages told the Chinese reporter of the brokerage: "the preparatory work is relatively complicated, it is expected to be online for a few months, and so on."

A number of brokerages have updated the latest progress of this business preparation in annual reports and other documents. Guoxin Securities (002736) said that cross-border LiCaiTong business pilot applications are progressing steadily. Guangfa Securities (000776) said that actively explore and promote cross-border LiCaiTong and other innovative business. Citic Securities (600030) said in its annual report that the scale of overseas asset management has increased steadily, with the successful launch of two public offering funds and the launch of cross-border LiCaiTong products.

Earlier, there was market news that the first batch of securities firms involved in cross-border LiCaiTong may have six to seven, but this news has not yet been confirmed. In early March, Gao Juan, chairman of the Hong Kong Securities Association, revealed that 10 securities firms have applied to the Hong Kong Securities Regulatory Commission for operation of "Cross-border LiCaiTong 2.0", most of which may be Chinese securities firms.

Responsible editor: tactical constancy

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