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TERMS AND CONDITIONS FOR CROSS-BOUNDARY WEALTHMANAGEMENT CONNECT SCHEME(Effective as of Oct 19, 2021)To:Citibank (Hong Kong) Limited whoseregistered office address is Citi Tower, One Bay East,83 Hoi Bun Road, Kwun Tong, Kowloon, Hong Kong,a bank licensed under the Banking Ordinance andregistered under section 119(1) of the Securities andFutures Ordinance to conduct Type 1 (dealing insecurities) and Type 4 (advising on securities) regulatedactivities with C.E. Number AAY797.1. Introduction1.1 These terms are supplementary to and not insubstitution for any provisions in the Citibank“Terms and Conditions for Accounts andServices” (“Account Terms”) and “Terms andConditions for Citibank Securities Services”(“Securities Terms”) (collectively the “GeneralTerms”) governing my banking and/or securitiesaccount(s), and shall apply only to myparticipation in the Cross-Boundary WealthManagement Connect (as defined in Clause 2below) through you. Capitalized terms notdefined in these terms shall have the samemeaning given to them in the General Termsunless the context requires otherwise. Myparticipation in the Cross-Boundary WealthManagement Connect is subject to the GeneralTerms unless otherwise specified in these terms,and in case of inconsistency between these termsand the General Terms with respect to any matterrelating to the Cross-Boundary WealthManagement Connect, these terms shall prevail.1.2 My participation in the Cross-Boundary WealthManagement Connect will also be subject to theterms and conditions that govern Citibank onlineand/or Citibank mobile application, throughwhich I may access the products or servicesprovided under the Cross-Boundary WealthManagement Connect. Further, all agreements,terms and conditions governing the respectiveaccounts, services and products covered by theCross-Boundary Wealth Management Connectfrom time to time continue to apply unless youagree otherwise. For the purpose of the CrossBoundary Wealth Management Connect, theprovisions of these terms prevail over such otheragreements, terms and conditions to the extent ofany inconsistency between them.1.3 These terms and conditions are appended to andshall form part of the General Terms as the“Terms and Conditions for the CrossBoundary Wealth Management Connect” or“WMC Terms” and will govern my rights andwww.citibank.com.hkobligations with respect to the Cross-BoundaryWealth Management Scheme products/services Isubscribe to or use now or in the future.2. Key definitionsIn these WMC Terms, unless the context otherwiserequires, the following terms shall have the followingmeanings:“Applicable Governing Requirement(s)”means any applicable law, regulation or courtorder, or any rule, direction, guideline, code,notice or restriction (whether or not having theforce of law) issued from time to time by anyGoverning Authority in respect of the WMCScheme or such requirement applicable to theServices which you, your affiliates or groupcompanies, your WMC Mainland Partner Bankor their respective affiliates or group companies,or I, am subject to or is/am expected to comply.“Governing Authority”means any regulatory authority, governmentalagency (including tax authority), clearing orsettlement bank or exchange, or industry or selfregulatory body, whether in or outside HongKong, Macao or Mainland China.“HKD”means Hong Kong dollars, the lawful currency ofHong Kong.“HKMA”means the Hong Kong Monetary Authority.“Hong Kong”means the Hong Kong Special AdministrativeRegion.“Hong Kong Investment Account”means, in the context of the Southbound Scheme,the dedicated account for investment andsettlement purposes opened with you by me,which can only be used for investment andcorresponding settlement purposes under theSouthbound Scheme.“Hong Kong Remittance Account”means, in the context of the Northbound Scheme,the dedicated account for remittance purposesopened with you by me, which can only be usedfor the purpose of remittance under theNorthbound Scheme.“Hong Kong WMC Accounts”means any of the Hong Kong InvestmentAccount or the Hong Kong Remittance Account.“I”, “me”, “my”refer to the person in whose name the relevantHong Kong WMC Account is opened or to whomthe Services are provided under the WMCTerms and Conditions for Cross-Boundary Wealth Management Connect SchemePage 1 of 14
Scheme.“Macao”means the Macao Special Administrative Region.“Mainland China”means the People’s Republic of China (excludingHong Kong, Macao and Taiwan), and“Mainland Chinese” shall be construedaccordingly.“Mainland Investment Account”means the investment and settlement account(s)opened by me in the context of the NorthboundScheme with the WMC Mainland Partner Bankfor the purposes of closed-loop fund movementbetween the Mainland Investment Account andthe Hong Kong Remittance Account forinvestment in the products offered by the WMCMainland Partner Bank in Mainland China.“Mainland Remittance Account”means the remittance account opened by me inthe context of the Southbound Scheme with theWMC Mainland Partner Bank for the closed-loopfund movement between the MainlandRemittance Account and the Hong KongInvestment Account for investment in the WMCProducts offered by you in Hong Kong.“Mainland WMC Accounts”means any of the Mainland Investment Accountor Mainland Remittance Account.“Northbound Scheme”means the designated channel through whicheligible residents in Hong Kong may invest inproducts distributed by banks in Mainland Chinaunder the WMC Scheme.“RMB”means Renminbi, the lawful currency ofMainland China.“Services”means the services provided by you under theWMC Scheme as more particularly described inthese WMC Terms.“Southbound Scheme”means the designated channel through whicheligible residents in Mainland China may investin products distributed by banks in Hong Kongunder the WMC Scheme.“Vulnerable Customer”means a client in respect of whom there is a riskor vulnerability that he/she may not be able tounderstand the risk and/or withstand the potentiallosses of an investment, as assessed by you withreference to the guidance issued by the HKMAfrom time to time.“Cross-BoundaryWealthManagementConnect” or “WMC Scheme” means the Crossboundary Wealth Management Connect PilotScheme in the Greater Bay Area, otherwiseknown as Wealth Management Connect, jointlyannounced by the People’s Bank of China, thewww.citibank.com.hkHKMA, and the Monetary Authority of Macao inJune 2020.“WMC Mainland Partner Bank”means a bank in the Mainland China with whichyou partner under the WMC Scheme or any otherbank as may be notified by you to me from timeto time.“WMC Products”means eligible products made available by youfrom time to time under the Southbound Scheme.“you”, “your”means Citibank (Hong Kong) Limited and itssuccessors and assigns, as well as its affiliates orany member of its group companies as the casemay be.3. Services under the WMC Scheme3.1 You may provide a range of services under theWMC Scheme to me, subject to and inaccordance with the Applicable GoverningRequirements. The Services you provide underthe WMC Scheme are different under theSouthbound Scheme and Northbound Scheme.The Services and/or benefits you provide to meor otherwise made available to me under theWMC Scheme may be different from or morelimited than those services or benefits availableto your other clients who are not participating inthe WMC Scheme regardless of the bankingtypes they maintain with you.3.2 You may provide some of the Services to me viaonline or mobile channels and some Services viaother channels as may be determined by you fromtime to time at your sole discretion.3.3 You may from time to time vary the scope, extentand features of the Services and the conditions,limits and procedures for my use of the Services.I acknowledge that my use of any Services issubject to my acceptance and full compliancewith the terms and conditions and procedures setout in these WMC Terms. Subject to ApplicableGoverning Requirements, I agree and accept thatyou do not represent that the information set outin these WMC Terms is up-to-date orcomprehensive and do not undertake to updatethese WMC Terms pursuant to changes in theApplicable Governing Requirements. I amresponsible for monitoring changes in the WMCScheme and the Applicable GoverningRequirements and complying with any newApplicable Governing Requirements.3.4 I acknowledge that you are independent of theWMC Mainland Partner Bank and neither younor any of your staff are, or act as, agents of theWMC Mainland Partner Bank, nor is the WMCMainland Partner Bank, or any of its staff, anagent of you.Terms and Conditions for Cross-Boundary Wealth Management Connect SchemePage 2 of 14
3.5 Neither the Services to be provided by you norany recommendation or advice given to me, norany other matter, gives rise to any fiduciary orequitable duties on your part which would obligeyou to accept responsibilities more extensivethan those set out in these WMC Terms. I waive,to the fullest extent permitted by ApplicableGoverning Requirements, any claims I may haveagainst you arising from any alleged breach ofany alleged fiduciary duty in connection with theServices.3.6 You shall have the right to apply at any time anyprocedures or requirements in respect of anyServices or transaction under the WMC Schemewhich you determine in your absolute discretionto be necessary or desirable for the purpose ofcomplying with any Applicable GoverningRequirement or market practice. You shall haveno liability for any losses or risks which mayresult directly or indirectly from such proceduresor requirements.3.7 To the extent permissible under the ApplicableGoverning Requirements, you may, withoutadvance notice to me and in your absolutediscretion, refuse to act upon any instructionprovided by me, vary or limit the scope of theServices, or suspend or terminate all or part of theServices, including if (for example, and withoutlimitation):(a) my instructions or your provision of theServices are not compliant with anyApplicable Governing Requirement or ifyou reasonably believe that suchinstruction or provision of the Servicesmay not be compliant with any ApplicableGoverning Requirement or if you arerequested or required by any GoverningAuthority or the WMC Mainland PartnerBank not to accept such instruction;(b) in respect of any instruction to deposit orremit funds, you determine in yourabsolute discretion that I do not havesufficient remaining individual quotaundertheApplicableGoverningRequirements;(c) in respect of any instruction to make atransaction order, you determine in yourabsolute discretion that I do not havesufficient funds to settle the paymentobligation in respect of such order on thesettlement day;(d) in your opinion, I become ineligible toparticipate in the WMC Scheme includingbut not limited to, where I become (in youropinion) a Vulnerable Customer; or(e) you see fit to do so.You shall have no liability for any losses or riskswww.citibank.com.hkwhich may result directly or indirectly from suchrefusal, suspension, or termination of the Service.3.8 If you become aware of any breach or noncompliance or suspected breach or noncompliance of the Applicable GoverningRequirements by me, I agree and accept that youmay file a report with or otherwise notify theGoverningAuthorities.TheGoverningAuthorities may require you to provide relevantinformation and records relating to me, and Ishall, upon your request, provide suchinformation (including translations into Chineseif requested by you) to enable you to assist therelevant Governing Authority.3.9 In the event of a breach or non-compliance orsuspected breach or non-compliance of anyApplicable Governing Requirements by me, youand/or the WMC Mainland Partner Bank may berequested or required by the GoverningAuthorities to take certain follow-up actionswithout prior notice to, or consent from, me,including but not limited to (i) suspending orrevoking my eligibility to engage in the WMCScheme, (ii) disposing the products held by me orallowing me to hold the products untilredemption at maturity but prohibitinginvestment in any new products in the context ofthe Southbound Scheme, or (iii) terminating theHong Kong WMC Accounts. I agree that you areentitled and authorized to take such follow-upactions as may be requested or required by theGoverning Authorities.4. Eligible client4.1 I represent and undertake on a continuing basis(including without limitation on the first day thatthese WMC Terms are accepted by me and oneach date I give an instruction under these WMCTerms), that:(a) my use of the Services and participation inthe WMC Scheme under these WMCTerms does not violate any ApplicableGoverning Requirements;(b) I am aware of and shall comply with allApplicable Governing Requirements;(c) if I am a client under the SouthboundScheme:i.I am a resident of Mainland Chinaeligible to participate in theSouthbound Scheme, am not aVulnerable Customer and I aminvesting in my personal capacity asprincipal, and not as joint-name orcorporate client;ii. I have not authorized and will notauthorize a third party to operate theHong Kong Investment Account onTerms and Conditions for Cross-Boundary Wealth Management Connect SchemePage 3 of 14
my behalf;I am not maintaining or otherwiseholding and will not open, maintainor otherwise hold any dedicatedinvestment or remittance accountswith other banks in Hong Kong orMainlandChinaunder theSouthbound Scheme and I will notparticipate in the SouthboundScheme through other banks inHong Kong or Mainland Chinaapart from you and the WMCMainland Partner Bank; andiv. I will only open and maintain oneHong Kong Investment Accountwith you and I have not opened norbeen maintaining any other HongKong Investment Accounts withyou prior to the first day that theseWMC Terms were accepted by me;(d) if I am a client under the NorthboundScheme:i.I am a Hong Kong resident whoholds a Hong Kong identity card,am not a Vulnerable Customer andI am investing in my personalcapacity as principal, and not asjoint-name or corporate client;ii. I have not authorized and will notauthorize a third party to operate theHong Kong Remittance Account onmy behalf;iii. I am not maintaining or otherwiseholding and will not open, maintainor otherwise hold any dedicatedinvestment or remittance accountswith other banks in Hong Kong orMainlandChinaunder theNorthbound Scheme and I will notparticipate in the NorthboundScheme through other banks inHong Kong or Mainland Chinaapart from you and the WMCMainland Partner Bank; andiv. I will only open and maintain oneHong Kong Remittance Accountwith you and I have not opened norbeen maintaining any other HongKong Remittance Accounts withyou prior to the first day that theseWMC Terms were accepted by me.4.2 I understand that if any of the representations,undertakings or statements I make to yougenerally and more particularly as set out in thisClause 4, is or becomes untrue, I shall inform youin writing immediately with full details and inwhich case you may at your discretion terminatethe Hong Kong WMC Accounts in accordanceiii.www.citibank.com.hkwith Clause 14.3 and the Applicable GoverningRequirements or otherwise in accordance withClause 3.9 or as determined by you as you see fitand I shall have no claim against you for any losssuffered as a result. I will indemnify you for anycosts borne by you and losses suffered by you ifany of my representations under this Clause 4 areinaccurate, incomplete or misleading.4.3 I acknowledge that you may conduct anassessment to determine whether I am aVulnerable Customer prior to opening the HongKong WMC Accounts, when I enter into anytransaction with you or obtain service from youand/or otherwise on an on-going basis as you seefit. I agree and accept that you will not open aHong Kong WMC Acccount for me if I am inyour opinion a Vulnerable Customer, and mayvary or limit the scope of the Services providedto me if I subsequently become in your opinion aVulnerable Customer. I undertake to notify youimmediately if there is any change in personalcircumstances that may result in me becoming aVulnerable Customer. I acknowledge that it is myresponsibility to provide you with up-to-dateinformation relating to me, my personalcircumstances and my knowledge and experienceof the products or services concerned in order foryou to comply with your obligations under theApplicable Governing Requirements, includingbut not limited to the on-going VulnerableCustomer assessment. I acknowledge that whereyou have offered certain Services to me while Iam a Vulnerable Customer in contravention ofthe Applicable Governing Requirements becauseof my failure to provide you with information toallow you to make an assessment as to whether Iam Vulnerable Customer or otherwise, I agree tocomply with any follow-up actions required byyou, including but not limited to liquidation orredemption of the relevant products and/orterminating the Hong Kong WMC Accounts andyou shall have no liability whatsoever in respectof such actions taken by you.4.4 Without prejudice to Clause 4.3 above, Iacknowledge that you may only provide theServices to me upon completion of your internalassessments and onboarding procedures to yoursatisfaction. You have the sole discretion torefuse to open the Hong Kong WMC Accounts,or to suspend or terminate the Hong Kong WMCAccounts if in your opinion, I am not, or am nolonger, eligible to participate in the WMCScheme under the Applicable GoverningRequirements.5. WMC Accounts5.1 For participation in the Southbound Scheme:(a) I shall open and maintain a MainlandTerms and Conditions for Cross-Boundary Wealth Management Connect SchemePage 4 of 14
(b)(c)(d)(e)Remittance Account with the WMCMainland Partner Bank in accordance withthe Applicable Governing Requirementsand prevailing policies and procedures ofthe WMC Mainland Partner Bank;I shall apply for a Hong Kong InvestmentAccount with you in accordance with theApplicable Governing Requirements andyour prevailing policies and procedures (i)by one or more personal visits to theWMC Mainland Partner Bank’s branch inMainland China for verification of myidentity, inspection of my identificationdocuments and signing of the accountopening documents and any otherdocumentation as required by you in thepresence of and certified by arepresentative of the WMC MainlandPartner Bank or (ii) by one or morepersonal visits to your branch in HongKong, subject to any follow-up requestsby you for the purpose of account opening.For the avoidance of doubt, the HongKong Investment Account will not beopened until your approval is obtained;I acknowledge and agree that theMainland Remittance Account and theHong Kong Investment Account areopened and maintained solely for thepurposes of closed-loop fund movementfrom the Mainland Remittance Account tothe Hong Kong Investment Account forinvestment in the WMC Products offeredby you in Hong Kong under theSouthbound Scheme. The Hong KongInvestment Account and the MainlandRemittance Account are paired on a oneto-one basis to ensure a closed-loop fundflow;I acknowledge and agree that the HongKong Investment Account shall be usedonly for the purposes under theSouthbound Scheme and not for any otherservices provided by you;I acknowledge and agree that the HongKong Investment Account may only beused to transfer funds to or receive fundsfrom the Mainland Remittance Accountand to receive investment returns arisingfromtheSouthboundSchemeinvestments, and funds in the Hong KongInvestment Account may only be used topurchase eligible WMC Products throughyou (or for entering into foreign exchangetransactions with you where the proceedsare wholly used to purchase eligible WMCProducts not denominated in RMB) or towww.citibank.com.hkbe remitted to the Mainland RemittanceAccount;(f) no cash withdrawal from the Hong KongInvestment Account, transfer of funds inthe Hong Kong Investment Account toother accounts (whether in Hong Kong orotherwise) or usage or remittance of fundsin the Hong Kong Investment Accountother than for the purposes specified inClause 5.1(e) is permitted;(g) I acknowledge and agree that I shall notcharge, assign, pledge or otherwise createany security or similar interest in favour ofyou or any third party over any assets inthe Hong Kong Investment Account(including interest income accruing in theHong Kong Investment Account) andshall not use any credit balance standing tothe Hong Kong Investment Account asleverage or guarantee; and(h) in respect of the Hong Kong InvestmentAccount, the following clauses in theGeneral Terms are disapplied:i.Clauses 12, 18 and 24 in theAccount Terms; andii. Clauses 13.3 and 15 in theSecurities Terms; andnotwithstanding the above disapplicationof specific clauses in the General Terms,any other clauses in the General Termswhich are or may in your opinion beinconsistent with or would contravenethe Applicable Governing Requirementsshall also be disapplied.5.2 For participation in the Northbound Scheme:(a) I shall open and maintain a MainlandInvestment Account with the WMCMainland Partner Bank in accordance withthe Applicable Governing Requirementsand the prevailing policies and proceduresof the WMC Mainland Partner Bank;(b) I shall open and maintain a Hong KongRemittance Account in accordance withthe Applicable Governing Requirementsand your prevailing policies andprocedures. For the avoidance of doubt,the Hong Kong Remittance Account willnot be opened until your approval isobtained;(c) I acknowledge and agree that the HongKong Remittance Account and theMainland Investment Account are openedand maintained solely for the purposes ofclosed-loop fund movement from theHong Kong Remittance Account to theMainland Investment Account forTerms and Conditions for Cross-Boundary Wealth Management Connect SchemePage 5 of 14
5.35.45.55.65.7investment in products offered by theWMC Mainland Partner Bank inMainland China under the NorthboundScheme. The Hong Kong RemittanceAccount and the Mainland InvestmentAccount are paired on a one-to-one basisto ensure a closed-loop fund flow;(d) in respect of the Hong Kong RemittanceAccount, any clauses in the General Termswhich are or may in your opinion beinconsistent with or would contravene theApplicable Governing Requirements shallbe disapplied; and(e) the WMC Mainland Partner Bank is not anauthorized institution as defined in theBanking Ordinance (Cap. 155, Laws ofHong Kong) and is not subject to thesupervision of the HKMA. The WMCMainland Partner Bank cannot carry on inHong Kong any banking business orbusiness of taking deposits. Any depositsmaintained with the WMC MainlandPartner Bank are not protected under theDeposit Protection Scheme in Hong Kong.I am deemed to have declined or forfeited myrequest to open a Hong Kong WMC Account if Ido not complete your account openingprocedures within the specified time frame. Insuch situation, upon the expiry of the specifiedtime frame, my account documentation will notbe returned to me and will be destroyed by you.However, I agree and accept that some of thesystem recorded data made by my self-input inyour online platform or otherwise submitted toyou will only be deleted after the expiry of yourapplicable record keeping period.I undertake to notify you immediately if there isany material change of terms governing, ortermination of, the Mainland RemittanceAccount or Mainland Investment Account.I acknowledge that you are not an agent orrepresentative for the WMC Mainland PartnerBank. I must contact the WMC Mainland PartnerBank directly with respect to any issues inrelation to the Mainland WMC Accounts,including without limitation, any accountinformation update or notification, order takingor post-sale support.If I am eligible and intend to participate in theWMC Scheme under both the SouthboundScheme and Northbound Scheme, a separateHong Kong Investment Account and Hong KongRemittance Account shall be opened with you.I acknowledge and agree that you offer varioustypes of accounts to clients but only the HongKong WMC Accounts will be made available bywww.citibank.com.hkyou to me under the WMC Scheme. You shallhave discretion on the types of WMC productsyou may offer under the Southbound Scheme andyou may not offer all types of productspermissible under the Applicable GoverningRequirements.5.8 Without prejudice to Clause 15, I acknowledgeand consent that you may share informationrelating to my Hong Kong WMC Account(including the account numbers) with the WMCMainland Partner Bank. In particular, Ispecifically consent to the recording of allconversations and the recording of s) between you and me and toyour retention, use, disclosure and transfer ofsuch recordings at your discretion to comply withthe Applicable Governing Requirements.5.9 I will indemnify you against any costs borne byyou and losses suffered by you if any of myrepresentations under this Clause 5 areinaccurate, incomplete or misleading.5.10 I agree and accept that you may produce aCitibank ATM/Debit Card in respect of my HongKong WMC Account solely for the purpose ofproviding certain information required for me togain access to Citibank Online/Mobile Bankingand Citiphone services and any other access orservices as may be offered by you from time totime (such as any code, card number, confidentialcode, PIN/password or one time password). Ihereby agree that:(a) if I have received a Citibank ATM/DebitCard from you,i.I shall not use my CitibankATM/Debit Card in respect of myHong Kong WMC Account toeffect banking transactions byelectronic means at any terminallocated anywhere including anytransactions on any Hong KongWMC Accounts;ii. I shall return to you the ATM/DebitCard immediately upon yourrequest; and(b) the “Terms and Conditions for CitibankATM/Debit Card Services and CitiphoneServices” shall apply to the extentapplicable to the limited use of the HongKong WMC Accounts under these WMCTerms and only when aCitibankATM/Debit Card and/or the CitiphoneServices are made available to me.6. Fund remittance and investment quota6.1 Under the Southbound Scheme, I agree andaccept that:Terms and Conditions for Cross-Boundary Wealth Management Connect SchemePage 6 of 14
(a) outward remittance from the MainlandRemittance Account to the Hong KongInvestment Account is subject to anaggregate quota that applies to allremittances from Mainland China to HongKong and Macao (the “SouthboundAggregate Quota”) and an individualinvestor quota that applies to me (the“SouthboundIndividualInvestorQuota”) and you will not accept anyremittance into my Hong KongInvestment Account if the SouthboundAggregate Quota or the SouthboundIndividual Investor Quota will or may bebreached as a result of the proposedremittance;(b) without prejudice to Clause 6.1(a), if (i)such remittance exceeds the SouthboundAggregate Quota, the processing ofinstructions for remittances fromMainland China to Hong Kong may besuspended, and/or (ii) such remittanceexceeds the Southbound IndividualInvestor Quota, you may refuse to acceptsuch funds or return the funds in excess tothe Mainland Remittance Account; and(c) all remittances between the Hong KongInvestment Account and MainlandRemittance Account must be made inRMB and therefore you may (but are notobliged to) enter into foreign exchangetransactions with me to convert RMB intoforeign currencies based on the prevailingmarket exchange rate as quoted by youfrom time to time for purchasing WMCProducts not denominated in RMB and theinvestment returns arising from theSouthbound Scheme investments must beconverted into RMB (if not already inRMB) before such remittance.6.2 Under the Northbound Scheme, I agree andaccept that:(a) outward remittance from the Hong KongRemittance Account to the MainlandInvestment Account is subject to anaggregate quota that applies to allremittances from Hong Kong and Macaoto Mainland China (the “NorthboundAggregate Quota”) and an individualinvestor quota that applies to me (the“NorthboundIndividualInvestorQuota”) and you shall not proceed withany outward remittance if the NorthboundAggregate Quota or the NorthboundIndividual Investor Quota will or may bebreached as a result of the proposedremittance;www.citibank.com.hk(b) without prejudice to Clause 6.2(a), if (i)such remittance exceeds the NorthboundAggregate Quota, the processing ofinstructions for remittances from HongKong to Mainland China may besuspended, and/or (ii) such remittanceexceeds the Northbound IndividualInvestor Quota, you will not proceed withthe remittance from the Hong KongRemittance Account to the MainlandInvestment Account or only proceed withthe remittance of my remainingNorthbound Individual Investor Quota;(c) funds in the Hong Kong RemittanceAccount may only be remitted to theMainland Investment Account, or to orfrom my other accounts (whether heldwith you or otherwise) without involvingcross-border remittance to MainlandChina;(d) no usage of funds in the Hong KongRemittance Account other than for thepurposes specified in Clause 6.2(c) ispermitted; and(e) all remittances between the Hong KongRemittance Account and MainlandInvestment Account must be made inRMB and therefore you may (but are notobliged to) enter into foreign exchangetransactions with me to convert HKD orother foreign currencies into RMB basedon the prevailing market exchange rate asquoted by you from time to time beforeremitting the RMB to the MainlandInvestment Account.6.3 The quotas referred to in Clauses 6.1 and 6.2 arecalculated on a net basis (after taking into accountfees and charges to be imposed and collected byyou (as you may from time to time specify in theservice fee booklet) and/or the WMC MainlandPartner Bank) and are subject to changes fromtime to time.7. Eligible Products7.1 Under the Southbound Scheme, you maydistribute eligible WMC Products to me. Youhave the sole discretion to offer only a subset ofthe range of products offered by you to yourclients.7.2 You may from time to time set limits on myinv
TERMS AND CONDITIONS FOR CROSS-BOUNDARY WEALTH MANAGEMENT CONNECT SCHEME (Effective as of Oct 19, 2021) www.citibank.com.hk Terms and Conditions for Cross-Boundary Wealth Management Connect Scheme Page 1 of 14 To: Citibank (Hong Kong) Limited whose registered office address is Citi Tower, One Bay East,
