Core Insights - The digital RMB has made significant progress in the cross-border payment sector, with recent developments including the launch of merchant payment services in Hong Kong by Hang Seng Bank in collaboration with China Construction Bank [1][2] Group 1: Market Developments - Hang Seng Bank and China Construction Bank have introduced digital RMB merchant payment services in Hong Kong, allowing consumers to use digital RMB wallets at over 100 local merchants [1][2] - The digital RMB International Operations Center in Shanghai has commenced operations, alongside the establishment of a digital RMB Operations Management Center in Beijing, aimed at facilitating cross-border applications and international development of the digital RMB [1][6] Group 2: Strategic Initiatives - The People's Bank of China (PBOC) is focusing on enhancing cross-border payment cooperation with Hong Kong, exploring various financial technology innovations to promote economic integration [3][4] - The PBOC has outlined principles for the infrastructure of digital currencies, emphasizing compliance, interoperability, and non-disruption [3] Group 3: Infrastructure Development - The Shanghai digital RMB International Operations Center has launched three major platforms: a cross-border digital payment platform, a blockchain service platform, and a digital asset platform, all aimed at addressing traditional cross-border payment challenges [6][7] - The Beijing digital RMB Operations Management Center is tasked with the construction and maintenance of the central bank's digital RMB system, promoting a secure and efficient digital RMB ecosystem [6][7]