Statement by selected Hong Kong banks on start-up of sources of funding for investing customers in the Mainland Verification

ACCORDING TO THE FIRST FINANCIAL REPORT, HONG KONG HSBC AND SOME OF THE HONG KONG BRANCHES OF THE CENTRAL BANK HAVE RECENTLY INITIATED A PROCESS TO DECLARE THE SOURCE OF FUNDS FOR LONG-STANDING INVESTMENT CLIENTS IN THE MAINLAND AND SET UP TIME POINTS ON 20 AUGUST AND 12 SEPTEMBER. HSBC SPOKESMEN SAID THAT BANKS FOLLOWED THE REGULATORY REQUIREMENTS AND INVITED RELEVANT MAINLAND INVESTORS TO PROVIDE SELF-DECLARATIONS TO CONFIRM THAT KYC AND CUSTOMER DUE DILIGENCE INFORMATION WERE UP TO DATE AND EFFECTIVE. THESE INITIATIVES ARE BASED ON THE CIRCULAR ISSUED BY THE HONG KONG FINANCIAL AUTHORITY ON 22 MAY。