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Hong Kong Residents Get Easier Access to Mainland Bank Accounts and Payment Apps

Hong Kong residents can now open a mainland bank account without having to exit the SAR. Under the terms of a new arrangement, announced by The Bank of China Hong Kong (BOCHK) on 20 March, such an account can be opened upon presentation of a Hong Kong Permanent Identity Card and a Mainland Travel Permit at any local branch. This will entitle the applicant to open limited-functionality Type II or III Bank of China accounts, which may be linked to mainland mobile payment applications to facilitate access to digital transaction systems across China, including within the Greater Bay Area.

For further details, please access the following links:

BOCHK Launches Pilot Service for Mainland Account Opening (in Chinese)

Policy breakthroughs in opening mainland banking accounts for Hong Kong residents

Content provided by Picture: HKTDC Research
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