I'm LongbridgeAI, I can summarize articles.Bank of East Asia executives stated that despite mainland China's crackdown on illegal cross-border investments and new offshore income taxes, there are no signs of slowing in new account openings. Co-CEOs Adrian Li and Brian Li noted that Hong Kong wealth management products remain attractive due to higher returns after tax, and strong demand for overseas diversification continues to drive robust sales of QDII and mutual fund products.
Mainland Chinese regulators have stepped up efforts to crack down on illegal cross-border investments and impose taxes on residents' offshore income.
BANK OF E ASIA (00023.HK) +0.930 (+5.713%) Short selling $4.28M; Ratio 35.980% Co-Chief Executive Adrian Li said that as the deadline for Mainland individuals to file and pay taxes approaches, market sentiment may be affected in the short term, but there has been no sign of a slowdown in the pace of new account openings so far, and the bank will continue to closely monitor market conditions.
Even after factoring in a 20% personal income tax on offshore investment gains, wealth management products in Hong Kong still offer attractive returns compared with those in Mainland China, he said, not being concerned about a long-term impact on the wealth management business.
Co-Chief Executive Brian Li added that Mainland residents have substantial demand for diversifying investments overseas. Bank of East Asia (China) charted robust growth in sales of Qualified Domestic Institutional Investor (QDII) products and mutual recognition of funds products in 1H26.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-20 12:25.)