, Hong Kong
Photo by Ketut Subiyanto via Pexels.

Hong Kong, China ink MOU for linkage of fast payments systems

Central bankers also discussed financial cooperation between their markets.

Mainland China and Hong Kong’s central banks have inked a memorandum of understanding (MOY) on cross-boundary linkage of payment systems between the two markets.

Deputy Governor Lu Lei of the People’s Bank of China (PBOC) and Hong Kong Monetary Authority (HKMA) deputy chief executive Howard Lee signed the MOU when they met on 2 August.

Lu and Lee discussed a “range of topics of mutual interest,” including financial cooperation between the Mainland and Hong Kong, as well as pushing forward the linkage of fast payment systems, the HKMA said in a press statement. The MOU establishes a cooperation framework for the linkage.

Follow the link s for more news on

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Private fund tokens may be the future of investing
Kinexys seeks to keep a token’s sensitive financial information from prying eyes.
More tax perks could drive Philippine SMEs to go ‘green’
The Southeast Asian nation’s 1.1 million small businesses can be a target for green loans. 
Asia struggles with G20 payment targets
The ultimate goal is for cross-border payments to achieve “the speed of the internet.”