TechFlow news, September 17 — According to Caixin, People's Bank of China Deputy Governor Lu Lei revealed at the 14th China Payment and Clearing Forum that significant progress has been made in cross-border QR code payment interoperability. Alipay and Ant International, both under Ant Group, have become the first institutions to participate in the pilot program for the unified cross-border QR code gateway service. Lu Lei emphasized that systemic risks facing the payment industry are increasingly rising. With the expansion in scale and frequency of cross-border fund flows, risks such as cross-border money laundering and terrorist financing have also found opportunities. Some overseas illegal platforms transfer funds through channels like cryptocurrencies and underground banks, creating a "resonance" between domestic and foreign risks, posing challenges to China's foreign exchange management and financial security.
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