Ping An Bank Launches Cross-Boundary Wealth Management Connect Services in Greater Bay Area - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
October 25, 2021 Newswires
Share
Share
Post
Email

Ping An Bank Launches Cross-Boundary Wealth Management Connect Services in Greater Bay Area

PR Newswire

HONG KONG and SHANGHAI, Oct. 25, 2021 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group", HKEX: 02318; SSE: 601318) announced its subsidiary Ping An Bank (SZ:000001) has launched services under the Cross-boundary Wealth Management Connect pilot scheme on 19 October. The Bank's service expansion opens a new chapter in the integration of Guangdong, Hong Kong and Macao, accelerating the financial markets' connectivity and development.

The Cross-boundary WMC enables residents in Hong Kong, Macao and nine cities in Guangdong Province to make cross-boundary investments in wealth management products distributed by banks in the area. Ping An Bank, one of the first banks to participate in the pilot scheme, received approval from the People's Bank of China and the Hong Kong Monetary Authority on 18 October.

The Cross-boundary WMC includes the Southbound Scheme and the Northbound Scheme. In the Northbound Scheme, Ping An Bank offers fixed-income top wealth management products tailor-made by its wealth management subsidiary Ping An Wealth Management. Ping An Bank also partners with first-tier fund companies in mainland China, such as E Fund and ZO Asset Management, to select mutual funds with low subscription fees and quality service exclusively for Hong Kong and Macao clients. Amid COVID-19 travel restrictions, the Bank enables Hong Kong and Macao clients who already have accounts with Ping An Bank in the Greater Bay Area to sign an e-agreement, link to the transfer account at OCBC Wing Hang Bank of Hong Kong, and activate the Northbound Scheme function in the Ping An Pocket Bank app. They can then purchase or redeem domestic wealth management products in mainland China online. There is no need to visit to a bank branch. However, new customers must open a bank account by visiting a Greater Bay Area branch in person.

For the Southbound Scheme, Mainland investors can open a cross-border investment account through Ping An Bank without travelling to Hong Kong or Macao. They can then invest in eligible wealth management products distributed by OCBC Wing Hang Bank of Hong Kong via the Ping An Pocket Bank app.

Ping An Bank is headquartered in Shenzhen. It has more than 200 offices in the Greater Bay Area, including Guangzhou, Zhuhai, Dongguan, Huizhou and Zhongshan. The Bank's service team includes more than 100 investment advisors and 900 private bankers. Capitalizing on Ping An Group's technological prowess, the Bank provides online and smart cross-border financial products and service experiences to Mainland, Hong Kong and Macao investors .

About Ping An Group
Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is a world-leading technology-powered retail financial services group. With over 223 million retail customers and 627 million internet users, Ping An is one of the largest financial services companies in the world. Ping An focuses on two over-arching domains of activity, "pan financial assets" and "pan health care", covering the provision of financial and health care services through our integrated financial services platform and our ecosystems in financial services, health care, auto services and smart city services. Our "finance + technology" and "finance + ecosystem" transformation strategies aim to provide customers and internet users with innovative and simple products and services using technology. As China's first joint stock insurance company, Ping An is committed to upholding the highest standards of corporate reporting and corporate governance. The Group is listed on the stock exchanges in Hong Kong and Shanghai. Ping An ranked 6th in the Forbes Global 2000 list in 2021 and ranked 16th in the Fortune Global 500 list in 2020. Ping An also ranked 49th in the 2021 WPP Kantar Millward Brown BrandZTM Top 100 Most Valuable Global Brands list.

For more information, please visit www.group.pingan.com and follow us on LinkedIn - PING AN.

About Ping An Bank
Ping An Bank Co., Ltd. (hereafter "Ping An Bank", SZ:000001) is a nationwide joint-stock commercial bank headquartered in Shenzhen. It was formerly known as Shenzhen Development Bank Co., Ltd. and renamed as Ping An Bank in July in the same year after the merger of former Ping An Bank Co., Ltd. in June 2012. As at the end of June 2021, Ping An Bank provides diversified financial services to enterprises, retailers and government departments through 101 branches and 1,110 outlets across China.

Cision View original content:https://www.prnewswire.com/news-releases/ping-an-bank-launches-cross-boundary-wealth-management-connect-services-in-greater-bay-area-301407332.html

SOURCE Ping An Insurance (Group) Company of China, Ltd.

Older

What Does Medicare Cover?

Newer

Prevention and assistance tips as health care fraud grows nationwide

Advisor News

  • Why advisors should be talking about life settlements
  • Millennials are ready to bring their advisor to the family table
  • How healthcare inflation can eat up a client’s retirement income
  • Global economy ‘resilient’ in the wake of massive disruption
  • Cryptocurrency legislation takes one step forward with bipartisan support
More Advisor News

Annuity News

  • NAIC regulators continue pushing for annuity illustration updates
  • Wink: Flat first-quarter annuity sales fall just short of $100B
  • 26North Re Agrees to Acquire 100% of Independent Insurance Group
  • Matthew Michelini named Athene president, with an eye on annuity growth
  • Lincoln Financial Announces Executive Leadership Transitions
More Annuity News

Health/Employee Benefits News

  • Arizona AG accuses health insurance companies of illegal price fixing
  • Bipartisan Bill Takes Another Step Toward Protecting Veterans from Predatory Claims Companies
  • Maintaining Continuous Medicaid Coverage for Eligible Children in New Jersey: Clinical Trial Identifier NCT07594782
  • New Managed Care Study Findings Have Been Reported by Researchers at Ohio State University Wexner Medical Center (National Analysis of Trends and Factors Associated with Surgeon Attrition in the US): Managed Care
  • WESTERMAN REINTRODUCES COMPREHENSIVE HEALTH CARE REFORM PLAN TO LOWER COST AND EXPAND COVERAGE FOR ALL AMERICANS
More Health/Employee Benefits News

Life Insurance News

  • Pradip Patiath Joins Securian Financial Board of Directors
  • Over $107 million in life insurance benefits located for Tennesseans in 2025
  • Study Data from National Institutes of Health Provide New Insights into Law and the Biosciences (Taking actuarial fairness seriously: what is required for the ethical use of genetics in insurance?): Legal Issues – Law and the Biosciences
  • 26North Re Agrees to Acquire 100% of Independent Insurance Group
  • Lincoln Financial Announces Executive Leadership Transitions
More Life Insurance News

- Presented By -

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Aim higher during Annuity Awareness Month
Raise the bar with our diverse portfolio of Ascend annuities, backed by superior financial strength

Maximize Your FIA Case Results
Learn a repeatable process to review, reposition, and present FIA opportunities with confidence.

You Could Be Losing Up to 20% of Your Commissions
GreenWave helps you find, fix, and prevent commission errors.

True Independence Means Having Choices
Cambridge offers flexibility, stability, proven tools—no private equity strings attached.

Life moves fast. Your BGA should, too.
Stay ahead with Modern Life's AI-powered tech and expert support.

Press Releases

  • RFP #T01625
  • Rockwood Programs Appoints Kerry Ladouceur as Vice President, Financial Lines
  • JP Insurance Group Launches Commercial Property & Casualty Division; Appoints Joe Webster as Managing Director
  • Sequent Planning Recognized on USA TODAY’s Best Financial Advisory Firms 2026 List
  • Highland Capital Brokerage Acquires Premier Financial, Inc.
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet