Hong Kong Banks Wrestle for China Stock-Connect Cash

Banks are offering various promotions, such as waiving brokerage fees and providing interest rate deals, to attract customers. The competition is intense as banks aim to secure market share in the initial phase of a new financial link-up, allowing investors access to China's equity market. However, unresolved tax issues remain a concern, with authorities working to clarify tax rules for foreign investors.

What unique offer is being provided by the Hongkong arm of the Bank of China to attract customers?

• A free financial consultation

• A discount on loan interest rates

• A limited edition gold medal

• A free vacation package

Why are banks eager to secure more market share during the initial phase of the link-up?

• To increase their loan interest rates

• To avoid losing potential customers permanently

• To reduce operational costs

• To expand their branch network

What is the potential daily net purchase limit for Chinese shares by investors?

• $2.1 billion

• $3.5 billion

• $4 trillion

• $1 billion

What is the current uncertainty faced by investors regarding the new market access?

• The availability of gold medals

• The interest rates on deposits

• The tax rules for foreign investors

• The exact brokerage fees

According to existing laws in China, what levy should foreign equity investors pay?

• 5%

• 20%

• 10%

• 15%