HSBCAnd Standard Chartered BankThere are more than twelve lenders available to start selling investment products as of Tuesday. This is under a cross-border investment scheme which connects capital markets throughout the Greater Bay Area.

As China reforms its capital markets, and opens them up to foreign investors, this is a good sign.

The Hong Kong Monetary Authority has approved 19 Hong Kong lenders under the Wealth Management Connect Scheme (WMC), which allows them to sell investment products in the Greater Bay Area — comprising of Guangdong province as well as the special administrative regions of Hong Kong and Macao.

According to Eddie Yue (chief executive at the HKMA), this will be the first time that retail investors are allowed to engage in cross-boundary investment.

Sixteen banks will be allowed to sell wealth management products in both Hong Kong and mainland China, while three lenders — Bank of East Asia, Dah Sing Bank, DBS Bank — can only sell products to mainland investors via the “Southbound Scheme.”

Yue stated in Monday’s release that “we will closely monitor operation of Cross-boundary WMC” and would work with industry to improve investor education and protection. According to Yue, the objective was “more growth opportunities in Hong Kong’s bank and wealth management industries.”

Hong Kong shares listed on the Stock Exchange HSBCWhile the rate of change was 0.1%, Standard CharteredThe announcement prompted banks to close their doors on Tuesday. The approval was also granted to the following banks: Bank of ChinaAnd China Construction BankBoth rose respectively by 1.47% + 0.74%

The Monday Special will be held at Hong Kong Exchanges and ClearingLaunched its first derivative A-share product, the MSCI China A 50 Connect Index futures contracts contract. A-shares refer to stocks of mainland China-based firms listed on the Shanghai Stock Exchange or Shenzhen Stock Exchange.

Wilfred Yanu, the co-head for markets at Hong Kong Exchanges and Clearings, said that “international investors’ interest has been increasing” and spoke to CNBC’s SquawkBox Asia on Monday. The futures contract launch was a “new chapter” for Hong Kong, he said. He also stated that China’s global allocation is still in an “early stage.”

“With the launch of the Connect A50 contract, which is a great index by MSCI, it’s going to help tremendously from the risk management perspective to international investor – and that will add on in terms of the interest of coming into the China market,” Yiu said.