HKMA and PBoC Collaborate on Digital RMB

According to Golden 10, the HKMA announced its “FinTech 2025” strategy, proposing that the HKMA will conduct an in-depth study to enhance the preparation for the issuance of a central bank digital currency at wholesale and retail levels in Hong Kong. The HKMA will also continue to work with the People’s Bank of China to conduct technical tests on digital renminbi (e-CNY) in Hong Kong to provide convenient cross-border payment services for Hong Kong and Mainland residents.