Yu Weiwen, Chairman of Hong Kong Financial Institutions: Announces Digital Measure of RMB in Hong Kong

On October 21, Hong Kong Monetary Authority Chairman Yu Weiwen announced at the 2021 Annual Financial Forum that the Hong Kong Monetary Authority and the People's Bank of China will support the digital measurement of the RMB in Hong Kong to that two residents can have more fun. . - linked payment method. work together on.

“In recent years, Hong Kong's financial technology has developed rapidly and emerged globally. Hong Kong's banking sector is also very strong in technological development. technology, strengthens and accelerates the use of financial technology. service .. has been launched and grown. new engines. As mentioned above, Yu Weiwen can see that Hong Kong's financial equipment development stage has improved.

Yu Weiwen explained, “Externally, the Hong Kong Financial Authority actively promotes financial exchanges with international financial institutions and foreign financial institutions. Internally, the Hong Kong Financial Authority is committed to technology that supports cross-border commerce. The Hong Kong Monetary Authority and the People's Financial Institution of China have collaborated to promote the digital measurement of the renminbi in Hong Kong, both facilitating cross-border payment services. Investment in Guangdong-Hong Kong-Macao Metropolitan District to complete new construction supervision

It is believed that the integration of financial innovation tools in two areas will facilitate innovation and development in the region.

Yu Weiwen said that Hong Kong should now seize the opportunity to further support Hong Kong's role in international trade, exports and trade, and strengthen its role in accordance with the RMB of international offshore trade, supported by the 14th plan. national five-year. Hub and International Center for Wealth Management. , the role of the Department of Homeland Security, "Technology will be the key to success, and investment is the shortcut key that opens the door to future development. forward."

Yu Weiwen said that the "14th Five-Year Plan" received by the state in March 2021 set clear rules for Hong Kong's future development and support for Hong Kong's development. For a good development, the first step is to make a marked improvement. To this end, Hong Kong Financial Institutions have established three key areas: “financial, treasury and cross-border cooperation”.

Regarding the future of Hong Kong FinTech, Yu Weiwen further said that the Hong Kong Financial Authority developed the “FinTech 2025” strategic plan in June 2021 with the aim of supporting corporate finance with full funding. by 2025. Corporation will take Fintech 2025 as a cornerstone of its strategy and will take a number of steps to support the development of Fintech.

Eddie Yue also said that in the future, HKMA will continue to seize the opportunity with Hong Kong industry and work closely with mainland China, fulfilling Hong Kong's special role to become a stable bridge for support Hong Kong's international role. financial center. Especially in terms of financial and technological innovation, we must take advantage of Hong Kong's unique advantages, and focus on promoting the improvement of financial technology, more efforts for cooperation between our two countries.