TechFlow News, May 27: According to Caixin Global, the Hong Kong Monetary Authority (HKMA) responded today to reports concerning “the requirement for certain banks in Hong Kong to obtain signed declarations from customers when opening investment accounts.” The HKMA stated that the relevant regulatory requirements were issued to all authorized institutions on May 22. Materials provided by the HKMA indicate that registered institutions must implement three additional measures when opening and managing investment accounts for mainland Chinese investors, including:
1. Closing investment accounts opened using suspicious or forged documents, and identifying customer investment accounts opened since January 2023—or any other period specified by the HKMA—using such suspicious or forged documents, including identity documents;
2. Closing zero-balance dormant investment accounts—specifically, investment accounts held by mainland Chinese investors that have no asset balance as of the reference date (May 22, 2026), and in which no activity has been initiated by the customer during the 12 months preceding the reference date;
3. Obtaining a written declaration from the mainland Chinese investor upon opening a new investment account, confirming that all funds supporting investment activities and related settlements originate lawfully from outside mainland China.
The relevant documents clarify that these newly introduced additional regulatory measures apply solely to investment accounts—including investment sub-accounts within integrated bank accounts—and do not extend to non-investment functions (e.g., ordinary savings, current or time deposits, payments, loans, and credit cards). Furthermore, these additional measures apply only to individual customers and do not cover corporate or institutional clients.
