Core Viewpoint - The central bank's cross-border payment initiative aims to connect China's domestic rapid payment system with other currency authorities, providing efficient, convenient, and secure cross-border payment services for residents in mainland China and abroad [1] Group 1: Cross-Border Payment System - The cross-border payment system significantly shortens the remittance chain compared to traditional cross-border transfers, enhancing efficiency [1] - Users can initiate cross-border remittances between mainland China and Hong Kong in Renminbi and Hong Kong dollars through mobile banking and online banking channels [1] Group 2: Participating Institutions - The first batch of mainland institutions participating in the cross-border payment system includes major banks such as Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and China Merchants Bank [1] - Hong Kong institutions involved include Bank of China Hong Kong, Bank of East Asia, China Construction Bank (Asia), Hang Seng Bank, HSBC, and ICBC (Asia), with plans to gradually expand the range of participants [1]
央行:跨境支付通支持内地与香港间人民币和港币的跨境汇款