6月22日起，内地、香港居民跨境转账大便利！

Core Viewpoint - The launch of the Cross-Border Payment System between Mainland China and Hong Kong is a significant step in enhancing financial cooperation and facilitating cross-border transactions, reflecting the central government's commitment to supporting Hong Kong's status as an international financial center [2][3]. Group 1: Overview of the Cross-Border Payment System - The Cross-Border Payment System will allow residents of both regions to conduct real-time cross-border transfers using just a phone number, with the system set to go live on June 22, 2025 [1]. - This initiative connects the Mainland's online payment interbank clearing system with Hong Kong's Faster Payment System, aiming to provide efficient, convenient, and secure cross-border payment services [1][2]. Group 2: Benefits and Features - The system is designed to enhance the efficiency and experience of cross-border payments, catering to the growing demand for quick and secure transactions due to increased economic and personal interactions between the two regions [3][4]. - It supports real-time transactions for certain amounts under the current account, facilitating payments for salaries, tuition, and medical expenses, among other daily needs [4][6]. Group 3: Operational Mechanism - Users can initiate cross-border remittances in RMB and HKD through mobile banking or online banking, relying on phone numbers or bank accounts [6]. - The system reduces intermediaries, thereby lowering the cost of cross-border remittances and improving transaction efficiency compared to traditional methods [5][6]. Group 4: Participating Institutions - Initial participating institutions include major banks from both Mainland China and Hong Kong, such as ICBC, Agricultural Bank of China, Bank of China, and HSBC, with plans to expand the list of participants [8].