The Hong Kong Monetary Authority said mainland Chinese customers continue to open bank accounts in the city. Banks have adopted new checks to keep the process compliant.
The Hong Kong Monetary Authority issued a statement on Saturday confirming that mainland customers can still open bank accounts in Hong Kong. Banks must apply stringent new checks to ensure the account opening process stays compliant and orderly, the authority said. “Chinese mainland customers continue to apply for opening accounts, and in general, the account opening process has been operating smoothly,” the statement said. Some mainlanders have reported rejections amid China’s tightening cross-border investment controls. Hong Kong regulators responded by launching their own push to tighten controls.