Tag Archives: Hong Kong

People’s Bank of China and Hong Kong Monetary Authority Discuss Testing Regional RMB-Based Cross-Border Payment Platform.. Organization of the launch of a pilot project in Hong Kong.. According to Executive Director of UDOG Eddie Yue, the use of the digital yuan in the regional system will make it convenient and beneficial for residents of the country traveling from mainland China to the Special Administrative Region or vice versa.. Digital Yuan Compatible with at Least Eight Chinese Bank Platforms The end result of the cooperation will be an integrated cross-border payment platform that will allow payments to be made in the central bank system.. Digital Yuan Explained: What It Will Mean To You? China is actively promoting its CBDC project and has been conducting open trials in several cities since the beginning of the year. The government is also distributing millions of dollars worth of gift cards to motivate people to…

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