The central bank: The Cross-Border Payment System supports cross-border remittances in RMB and HKD between the mainland and Hong Kong.

A responsible person from the relevant department of the central bank answered reporters' questions about the Cross-Border Payment System, stating that the system connects the mainland rapid payment system with the rapid payment systems of other monetary authorities, establishes supporting policy arrangements, and provides efficient, convenient, and secure cross-border payment services for residents of the mainland and overseas. Compared with traditional cross-border remittances, the Cross-Border Payment System effectively shortens the cross-border remittance chain and improves remittance efficiency, supporting users in initiating remittances in RMB and HKD between the mainland and Hong Kong online through mobile banking, online banking, and other channels of participating Institutions based on mobile numbers and bank Accounts. The first batch of mainland Institutions participating in the Cross-Border Payment System includes Industrial And Commercial Bank Of China, Agricultural Bank Of China, Bank Of China, China Construction Bank Corporation, Bank Of Communications, and CM BANK; Hong Kong Institutions include BOC HONG KONG, BANK OF E ASIA, China Jianyin Investment, HANG SENG BANK, HSBC, and ICBC Asia, and the scope of participation will gradually expand in the future. (Central Bank)