Here's how Hong Kong banks can benefit from the Qianhai opportunity

They can develop these 4 business areas.

According to Barclays, Tse Yung Hoi, Chairman, BOCI-Prudential Asset Management, presented the progress of development of the Qianhai special economic zone as a pilot testing ground for internationalisation of China’s financial industry and opportunities it presents for the Hong Kong Banks.

Mr Tse is also an Advisory Committee Member of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen.

Here are the potential opportunities for Hong Kong banks according to Barclays:

With Qianhai to become the pilot district for RMB cross-border use, Hong Kong banks have opportunities to develop business in various areas, including:

· Bilateral cross-border RMB loans

· Underwriting bond issuance of Qianhai companies in Hong Kong

· Custody business, e.g. QFII, RQFII, QDII, etc

· Wealth management for wealthy people from mainland