"ABOUT THE NEW PILOT PROGRAM OF HONG KONG ENABLING DIGITAL YUAN PAYMENTS THROUGH MAJOR CHINESE BANKS" BY GOLDILOCKS, 19 MAY

 GOLDILOCKS

"HONG Kong launched a pilot programme enabling digital yuan payments through major Chinese banks, the first example of China’s currency project being deployed beyond the mainland.

Residents of the city can now open digital yuan wallets with Bank of China, Bank of Communications, China Construction Bank and Industrial and Commercial Bank of China to pay merchants in mainland China directly, Hong Kong’s de facto central bank said in a statement on Friday (May 17)."

Hong Kong has officially launched a pilot program that will allow them to utilize the Yuan as a form of payments. 

Users can use the FPS payment system. FPS stands for Faster Payments Service. FPS is a UK banking initiative allowing real-time electronic fund transfers between banks. 

© Goldilocks

https://www.businesstimes.com.sg/companies-markets/banking-finance/hong-kong-officially-launches-pilot-digital-yuan-payments