Hong Kong will explore the possibility of collaborating with the People’s Bank of China on the digital currency and electronic payment being developed by the central bank, the Secretary for Financial Services and the Treasury, Christopher Hui, said today.
He said Hong Kong has been paying attention to developments by the central bank.
“We understand that currently, the trial of DC/EP is used for retail payments in the mainland. The PBoC is also conducting trials in selected cities. In the event that the PBoC would like to explore the use of DC/EP in places outside of the mainland, including Hong Kong, the government and the HKMA will respond and collaborate,” Hui said.
“We will also continue to explore with the industry and mainland authorities on the enhancement and expansion of channels for two-way flow of cross-boundary yuan funds.”
Read more: https://www.thestandard.com.hk/breaking-news/section/4/157841/HK-open-to-joining-central-bank-on-digital-currency-trial