The People's Bank of China and the Hong Kong Monetary Authority jointly hold the cross-border payment channel launching ceremony.

On the morning of June 20, the People's Bank of China and the Hong Kong Monetary Authority jointly held the mainland and Hong Kong fast payment system interconnection launch ceremony. Pan Gongsheng, Governor of the People's Bank of China, Wang Linggui, Deputy Director of the Central Hong Kong and Macau Office and Deputy Director of the State Council Hong Kong and Macau Affairs Office, and Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, attended and delivered speeches. Deputy Governor of the People's Bank of China, Lu Lei, presided over the event. Cross-border payment connectivity is another important measure supported by the central government to support Hong Kong's development, facilitate people's livelihoods, and promote cooperation between the mainland and Hong Kong. By directly connecting the mainland's online payment interbank clearing system with Hong Kong's fast payment system "FPS," and complying with the laws and regulations of both sides, supporting institutions will be able to provide efficient, convenient, and secure cross-border payment services to residents of both regions. Cross-border payment connectivity will be launched and operational on June 22, 2025. The introduction of cross-border payment connectivity will help improve the efficiency and service level of cross-border payments between the two regions, facilitate economic and trade activities and personnel exchanges, and consolidate and enhance Hong Kong's status as an international financial center.