The People's Bank of China and the Hong Kong Monetary Authority: Cross-border payment channels strengthen Hong Kong's status as an international financial center and hub for offshore renminbi business.

Zhifubao Finance App has learned that in order to deepen financial cooperation between the mainland and Hong Kong, and to meet the safe, efficient, and convenient cross-border remittance needs of residents in both regions, the People's Bank of China and the Hong Kong Monetary Authority jointly promote and support the cooperation between the China National Clearing Center of the People's Bank of China and the Hong Kong Interbank Clearing Limited to establish cross-border payment connectivity between the mainland and Hong Kong (hereinafter referred to as Cross-border Payment Connectivity).