Over half of GBA residents turn to HK banking products

More than half (51%) of respondents in the Greater Bay Area (GBA) currently use Hong Kong banking products, with adoption highest among those aged between 18 and 34.

The “GBA Survey on Banking and Insurance,” conducted by Omnicom Media Hong Kong, examines the usage and attitudes of GBA residents toward Hong Kong’s banking and insurance sectors.

Don't miss: Survey: Douyin leads GBA media landscape with deep user engagement

Fielded from 6 to 25 June 2025, the survey captured responses from 517 residents aged 18 to 59 across nine mainland GBA cities—Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen, and Zhaoqing—excluding Hong Kong and Macau.

Bank of China, ICBC, CCB, and HSBC emerged as the most popular Hong Kong banks among GBA respondents. RMB and HKD accounts are the most commonly used banking products.

Intent to use Hong Kong banking products and services over the next six months is strong: 87% of respondents expressed interest. Meanwhile, 69% said they are likely to purchase insurance products during the same period.

Life, critical illness, and medical insurance are the top product categories of interest. China Life, Tai Ping, and HSBC Life lead as the preferred insurance brands in Hong Kong.

Beyond shifting banking habits among GBA residents, a separate report highlighted Douyin’s continued dominance as the leading viewing platform across all age groups in the Greater Bay Area.

Around 60% of residents rank Douyin among their top three platforms for time spent. Its appeal cuts across generations, with particularly strong uptake among younger users: 92% of those aged 18 to 34 use the platform, followed by 88% of those aged 35 to 44, and 86% of those aged 45 to 59.

But reach is only part of the story. Douyin also drives exceptional audience engagement. The same survey found 60% of GBA residents place it among their top three platforms for time spent—far ahead of competitors like Tencent Video (23%), GRT Satellite (20%), Bilibili (18%), and CCTV (16%).

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