Core Insights - The 14th "China Payment and Clearing Forum" was held in Beijing, focusing on building a connected payment ecosystem and sharing the future of digital finance [1] - The People's Bank of China (PBOC) is committed to high-quality development of the payment industry, enhancing financial services, and supporting the construction of a strong financial nation [1] Group 1 - The PBOC has successfully constructed new pathways for interconnectivity in rapid payment systems, with the interconnection between mainland China and Hong Kong's rapid payment systems achieved in June this year [2] - Cross-border QR code payment interconnectivity has made significant progress, with the PBOC promoting payment service facilitation for foreign visitors to China, enhancing economic activity through retail payment interconnectivity [2] - As of September 11, the newly launched unified gateway for cross-border QR code payments processed 1.981 million transactions, amounting to 427 million yuan [2] Group 2 - China UnionPay and other clearing companies are actively promoting QR code interconnectivity with countries like Thailand, Vietnam, and Indonesia, aiming to enhance cross-border payment cooperation [2] - The domestic QR code payment interconnectivity is progressing in an orderly manner, with the payment clearing association and market entities collaborating to reduce barriers between different payment networks [2]

Group 1: Development Opportunities in the Greater Bay Area - The Greater Bay Area is experiencing a clear trend of integration and development despite increasing external uncertainties, with Hong Kong's role as a major offshore RMB center expected to strengthen [1] - Shenzhen's financial bureau plans to enhance cooperation with Hong Kong through project-based initiatives, support listings for Shenzhen and Greater Bay Area companies in Hong Kong, and improve cross-border transaction efficiency [1] Group 2: Financial Innovation and Connectivity - Hong Kong's financial sector possesses unique advantages in financing and investment, aiming to deepen financial connectivity with the mainland through initiatives like Stock Connect and Bond Connect, while promoting RMB internationalization [2] - The Hong Kong government emphasizes the development of innovative finance, green finance, livelihood finance, and Silk Road finance, with significant achievements in innovative finance, becoming the world's second-largest biotech financing center [2] Group 3: Macau's Role and Sector Focus - Macau aims for moderate economic diversification, focusing on traditional Chinese medicine, modern finance, high-tech, and cultural sports, while enhancing connectivity with the mainland and Hong Kong in the financial sector [3] - Macau plans to facilitate cross-border capital flow and digital currency integration, leveraging its connections with Portuguese-speaking countries to promote outbound and inbound business [3] Group 4: Strategies for Addressing Challenges - The Greater Bay Area should enhance technological self-innovation, deepen institutional openness, and strengthen industrial chain resilience, with capital market development being crucial for optimizing financing structures and promoting cross-border capital flow [3]