Carrie Lam: HKMA is working with the central bank and other institutions to study the application of the central bank’s digital currency in cross-border payments

According to Sina News, Mrs. Lam said at the Caixin 2021 Summer Summit that the Hong Kong Monetary Authority is working with the People’s Bank of China and the central banks of Thailand and the United Arab Emirates to study the application of the central bank’s digital currency in cross-border payments to build a good foundation for enhancing the financial infrastructure’s ability to handle cross-border payments. “The government will also stimulate the public’s willingness to spend by issuing $5,000 e-consumer vouchers to each citizen through a consumer voucher program. The multiplier effect accelerates the economic recovery and also hopes to encourage more local merchants and citizens to use e-payment to promote the development of the local e-payment market”, she said.

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