China and Hong Kong will expand the Wealth Connect pilot scheme by adding 10 securities firms, including major brokerages like China Citic Securities, Huatai Securities, and Guotai Junan Securities, sources said. Launched in 2021, the scheme allows residents of nine Guangdong cities to buy investment products in Hong Kong and Macau, and vice versa. To date, mainland investors have invested CNY15.4bn (USD2.3bn) in offshore products through the scheme, while Hong Kong and Macau residents have invested CNY24.6m northbound. The expansion includes top brokerages as China’s A-shares turnover hit its lowest since May 2020. Currently, 24 Hong Kong-based banks and 27 mainland banks are approved to facilitate cross-border investments.