Huan Qiu Wang·2025-06-24 04:56Group 1 - The cross-border payment platform officially launched on June 22, with initial participation from major banks in mainland China and Hong Kong [1] - Participating banks include Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and China Merchants Bank, along with Hong Kong banks like Bank of China (Hong Kong), East Asia Bank, China Construction Bank (Asia), Hang Seng Bank, HSBC Hong Kong, and ICBC (Asia) [1] - Agricultural Bank of China plans to start trials in Shenzhen on June 22, expanding to Guangdong and Hainan in July, while China Construction Bank will also begin trials in Guangdong, Shenzhen, and Hainan on the same date [1] Group 2 - Some banks announced fee waivers for the new cross-border payment service, with Agricultural Bank of China stating that transactions will be "instant" and free of charge during the trial period [1] - China Construction Bank indicated that personal customers can use their mobile banking app to access the service, with real-time fund transfers and no fees during the entire process [1] - ICBC (Asia) and China Construction Bank (Asia) also announced that they would waive fees for personal customers using the service [1] Group 3 - China Construction Bank (Asia) will offer cash rewards from June 22 to August 31 for customers who set it as their default receiving bank and complete at least one transfer of 1,000 HKD/RMB, with a reward of 100 HKD [3] - HSBC announced that eligible customers receiving at least 1,000 HKD or RMB through the cross-border payment service could earn a reward of 10 USD, valid until September 30, 2025 [3] - Some banks are also introducing real-time currency exchange services to facilitate direct RMB conversion and transfer operations for customers [3]