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Mainlanders can still open bank accounts in Hong Kong despite new rules: HKMA

Some mainlanders have reported having applications to open Hong Kong accounts rejected amid China’s tightening cross-border investment controls

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Enoch YiuandDaisy WuPublished: 3:24pm, 6 Jun 2026

Mainland customers can still open bank accounts in Hong Kong, but banks must adopt stringent new checks to ensure their processes are “compliant and orderly”, the Hong Kong Monetary Authority (HKMA) said in a statement on Saturday.

“The banking industry has implemented the new regulatory requirements set out in the HKMA circular to ensure the account opening process is compliant and orderly,” the statement said. “Chinese mainland customers continue to apply for opening accounts, and in general, the account opening process has been operating smoothly.”

The HKMA statement followed reports that some mainland residents had seen applications to open Hong Kong bank accounts rejected, as financial institutions in the city tighten policies amid China’s broader push to clamp down on illicit cross-border investment.AdvertisementLast month, the China Securities Regulatory Commission fined three brokerage firms – Tiger Brokers, Futu Securities International and Longbridge Securities – over US$330 million for offering mainland Chinese investors access to overseas stocks without a licence.

Hong Kong’s regulators quickly responded by launching their own push to tighten controls.

AdvertisementThe Securities and Futures Commission (SFC) required licensed brokerages to conduct internal checks to ensure no falsified documents or materials were being used to open accounts. The HKMA, meanwhile, instructed banks to require mainland customers opening investment accounts to declare their funds originated outside mainland China.AdvertisementSelect VoiceSelect Speed00:0000:001.00x