HKMA Yu Weiwen: continues to work with the Hong Kong Renminbi Numerical Test

Recently, the Chairman of the Hong Kong Monetary Authority ("HKMA"), Yu Weiwen, said at the Hong Kong Economic Summit 2022:We will continue to work with the China Automobile Corporation to participate in the digital yuan test in Hong Kong.

Yu Weiwen said that together with international financial institutions and other medium-sized financial institutions, we will actively promote financial development, establish more digital financial institutions (mBridge), and study bank spending in cross-border payments. known worldwide.. Easier financial transformation.

Regarding the research and development of the Hong Kong digital dollar, Yu Weiwen said again:continue to explore the advertising potential of retail mid-range digital currency banks in Hong Kong;Plan for future improvements.

In June this year, HKMA developed the "Fintech 2025" strategy, which included Hong Kong financing in five studies.

In October, HKMA announced the "White Paper on Retail-Level Central Bank Digital Currency Technology" (hereinafter referred to as the "Document"), presenting some findings of the Hong Kong Digital Dollar Project. awareness. The "Free Book" identifies design resources and develops solutions for synchronized cross-ledger, anti-ad, anti-privacy and tracking, and exchange solutions. Fast forward from the two-tier banking division to be efficient We focus on exploring efficient and safe solutions. . digital currency format, etc.

He stressed that the research content published in the "White Paper" should be considered a preliminary study and not a report on the digital development of the Hong Kong dollar. New discoveries in the field of future technology research, especially in cryptography and distribution, could facilitate the search for solutions for internal banking systems.