Recently, the Hong Kong branch of China Merchants Bank issued a notice stating that the banking transfer services of Dongwu Securities International Brokerage Co., Ltd. and China Merchants Securities International Brokerage Co., Ltd. will be suspended from 4:00 p.m. on November 30 until further notice. In response, the Hong Kong branch of China Merchants Bank said that the bank had received a notice from the relevant brokerage firm requesting the suspension of bank transfer business cooperation between the two parties. After negotiations with brokerage firms, the bank issued a notice 30 days in advance to affected customers in accordance with the relevant requirements of the Hong Kong Monetary Authority, so that customers can make appropriate arrangements in advance to select other transfer channels. This is not an example of how a Chinese bank in Hong Kong recently suspended direct bank transfer services with brokerage firms. Previously, the Hong Kong branch of Minsheng Bank had also gradually adjusted related business cooperation with some Chinese and local Hong Kong brokerage firms.

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