According to reliable sources, on the morning of June 20, 2023, the Central Bank held an important ceremony with the Hong Kong Monetary Authority to officially launch the interconnection plan for the fast payment system between mainland China and Hong Kong. This innovative project, named "Cross-Border Payment Link," is expected to be officially operational on June 22, 2025.

The interconnectivity initiative of this payment infrastructure will significantly enhance the cross-border financial service capabilities between the two regions, making the flow of funds more convenient and efficient. Analysts believe that the system will not only provide a more convenient payment experience for people and businesses in both regions, promoting economic and trade exchanges, but will also play a positive role in consolidating Hong Kong's status as an international financial hub.
With the rapid development of financial technology, such innovations in cross-border payments are of milestone significance for deepening financial cooperation between the Mainland and Hong Kong, and will provide new support for financial connectivity in the Greater Bay Area.