Hong Kong Central Bank HKMA said it is working with the Bank of China and other regional organizations on the development of CBDC and payment platforms for use in cross-border payments. Details on the subject also came up during the Hong Kong Fintech Week.
In Hong Kong Fintech Week, which took place between 2-6 November, digital yuan, the digital central bank money of China, was also discussed. According to the report in the South China Morning Post, Edmond Lau, one of the speakers, said at the Fintech conference that the HKMA closely followed the digital yuan and closely observed the spread of the CBDC. Then Lou said that people from China can use digital yuan with cash or credit card in Hong Kong and said:
“If the Chinese Central Bank allows the use of the digital yuan outside of China in the future, there will be no reason not to use China’s digital central bank money within the borders of Hong Kong.”