Opening an account and saving money in Hong Kong is becoming popular again! Make an appointment one month in advance, with a maximum short-term interest rate of 9%
Release Date：2019-05-15 22:19:08 Views：
Opening an account and saving money in Hong Kong is becoming popular again! Make an appointment one month in advance, with a maximum short-term interest rate of 9%,
Cailian News on August 17th
While mainland deposit rates are declining, Hong Kong deposit rates are constantly rising. Promotional slogans such as "New customers enjoy an additional annual interest rate of 7.28%", "Fixed deposit USD annual interest rate of up to 9%", and "Cross border wealth management gift" have attracted a large number of customers to open accounts in Hong Kong.
Is opening an account in Hong Kong really so popular? Why is the fixed deposit rate in Hong Kong so high? How much capital has attracted to Hong Kong?
A craze for opening accounts in Hong Kong? Monetary Authority: The total amount of bank deposits has slightly increased
Although the interest rate gap between Hong Kong and mainland China is widening, it has been described by many media as a "craze for opening accounts in Hong Kong". For example, the "internet celebrity" branch of Bank of China in Hong Kong, the Hong Kong City Branch, has long queues every morning at 7 am, and the appointment for opening accounts at HSBC has been queued for a month.
According to the latest data released by the Hong Kong Monetary Authority, the total deposits of authorized institutions in Hong Kong have not experienced significant fluctuations. This also means that although Hong Kong's high interest fixed deposits have been under discussion recently, the potential for attracting new funds is limited, and more depositors may already have a relatively balanced asset allocation or currently hold idle US dollars.
Specifically, statistics released by the Hong Kong Monetary Authority show that in the first half of 2023, total deposits and Hong Kong dollar deposits increased by 0.2% and 1.7% respectively. Hong Kong's RMB deposits increased by 1.7% in June, reaching RMB 907.3 billion at the end of June. Hong Kong dollar deposits and foreign currency deposits increased by 0.2% and 0.8% respectively in June. The total amount of RMB remittances for cross-border trade settlement was 1089.2 billion yuan in June, compared to 977.3 billion yuan in May.
