内地与香港金融市场互联互通再迈新步 居民跨境支付服务更高效安全

Core Points - The launch of the Cross-Border Payment System facilitates real-time cross-border transfers for residents of mainland China and Hong Kong, enhancing the payment experience for various purposes such as tuition fees and small remittances [1][6] - The system connects the mainland's online payment interbank clearing system with Hong Kong's Fast Payment System, allowing for convenient remittance services in both RMB and HKD [1][3] - The initiative is seen as a significant milestone in deepening financial cooperation between mainland China and Hong Kong, reflecting the central government's commitment to supporting Hong Kong's status as an international financial center [2][6] Summary by Sections Cross-Border Payment System Overview - The Cross-Border Payment System was launched on June 22, enabling residents to conduct real-time cross-border payments with just a phone number [1] - It supports remittance services for various scenarios, including salary payments, tuition fees, and medical expenses, while adhering to relevant laws and regulations [1][3] Financial Cooperation and Market Integration - The initiative is part of a broader trend of increasing financial cooperation between mainland China and Hong Kong, following previous measures like Stock Connect and Bond Connect [3] - The system aims to meet the growing demand for efficient and secure cross-border payments, enhancing the integration of financial markets [3][6] Operational Details - The system allows mainland residents to remit funds to Hong Kong and vice versa, with specific identification requirements for participants [4] - Six banks from each region are initially participating, with plans to expand the number of institutions involved [4][5] User Experience and Efficiency - The Cross-Border Payment System significantly improves the efficiency and reduces the costs of cross-border transactions compared to traditional methods [5] - Users can initiate transfers through mobile banking and online platforms, with real-time processing for certain amounts [5][6] Future Developments - The People's Bank of China and the Hong Kong Monetary Authority plan to continue enhancing cooperation and optimizing user experiences in cross-border payments [6]