Policy Interpretation
Cross-border payment service is now available! Residents of the Chinese mainland and Hong Kong can now make real-time online transfers
The People's Bank of China (PBOC), the country's central bank, said on Friday that the cross-border payment connect linking users in the Chinese mainland and Hong Kong will begin operations on June 22.
By linking the mainland's Internet Banking Payment System and Hong Kong's Faster Payment System, the payment connect will support participating institutions to provide efficient, convenient and safe cross-border payment services for residents in both the mainland and Hong Kong, the PBOC said in a statement.
Guangdong - Guangzhou
June 23, 2025