TechFlow, November 3 — Lu Lei, Deputy Governor of the People's Bank of China, said at Hong Kong FinTech Week Startup Festival that the central bank attaches great importance to cross-border payment cooperation with Hong Kong and is actively advancing payment connectivity between the two regions. Lu noted that the PBOC has been expanding the offshore operations of the Cross-Border Interbank Payment System (CIPS) in Hong Kong. The "Cross-Border Payment Connect" was successfully launched in June this year, and a unified cross-border QR code gateway has been established. Going forward, the PBOC will further explore using digital RMB for cross-border payments, including promoting cooperation on the multilateral central bank digital currency bridge and building a dual platform combining blockchain and digital assets, to provide greater convenience for integrated economic development between the two regions.
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