Hong Kong Financial Secretary "Considering expanding uses of the digital yuan"

Xu Zhengwei, Hong Kong's Financial Secretary, said the number of retail outlets in Hong Kong accepting the digital yuan (e-CNY) as a payment method has been steadily increasing.

According to Hong Kong 01 on the 9th (Korea time), Minister Xu said, "The People's Bank of China and the Hong Kong Monetary Authority have been expanding cross-border use of the digital yuan in Hong Kong since May last year," adding, "The digital yuan provides residents of both regions with a safe and convenient payment option and improves cross-border payment efficiency and user experience."

Minister Xu said he is working closely with the People's Bank of China Digital Currency Research Institute and mainland China operators, and is encouraging more Hong Kong retailers to accept the digital yuan through banks. He said, "We are discussing with the People's Bank of China specifications for digital yuan wallet usage limits and ways to expand the scope of application."