Chief Executive John Lee on Wednesday announced that a new cross-boundary banking arrangement would start next month, saying it would make retirement on the mainland more convenient for elderly Hongkongers.

Under the new arrangement, Hong Kong retirees living in both Fujian and Guangdong provinces will be allowed to claim their social welfare payments directly through their mainland bank accounts, removing the need to transfer funds from Hong Kong accounts.

The initiative was unveiled in last year's Policy Address.

Concluding his three-day trip to Fujian, Lee joined a group of Hongkongers who reside in the province for a yum cha gathering on Wednesday morning.

In a social media post, Lee also said he was glad to be told that the Fujian Scheme — the government’s monthly cash allowance for elderly residents living there — had helped improve their quality of life.


Edited by Tony Sabine