HSBC Hong Kong Requires Mainland Investors to Confirm Source of Funds by September 12

HSBC Hong Kong has notified some existing investment clients in mainland China to submit a "Declaration for Opening/Maintaining Accounts" through the HSBC Hong Kong App by September 12, and to update their contact information. The declaration must confirm that the funds for investment activities come from legitimate sources outside mainland China and agree to the bank disclosing personal information as required by law enforcement or regulatory agencies. If the declaration is not submitted by August 20, investment-related services may be suspended; if it is still not submitted by September 12, investment-related services may be terminated. A spokesperson for HSBC Hong Kong stated that this move is in compliance with relevant regulatory requirements, aiming to ensure the currency and validity of client information for continued service provision. This declaration requirement applies only to investment service clients. In May of this year, the Hong Kong Monetary Authority issued monitoring measures for investment account management, requiring additional steps to manage investment accounts of mainland investors, including closing accounts opened with suspicious or forged documents and zero-balance inactive investment accounts.

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