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"Golden Finance reported that Eddie Yue, Deputy Chairman of the Financial Secretary's Office and Treasury Bureau of Hong Kong, stated that digitization can reduce costs and enhance efficiency in the financial services industry. Additionally, digitization has led to the emergence of new financial products and services, providing a framework for innovation. Hong Kong's leading financial services ecosystem can support the digital transformation of countries or regions along the ""Belt and Road"" initiative.
Similarly, Thailand has the rapid digital payment system ""PromptPay."" Currently, the Hong Kong Monetary Authority is collaborating with the Bank of Thailand to link Hong Kong's ""Faster Payment System"" with Thailand's ""PromptPay"" to facilitate secure, efficient, and convenient cross-border payments between Hong Kong and Thailand. This will make cross-border payments more convenient for travelers between the two regions.
Furthermore, in October 2022, the International Clearing Bank (Hong Kong) Innovation Center, the Hong Kong Monetary Authority, the Bank of Thailand, the Central Bank of the UAE, and the People's Bank of China Digital Currency Institute jointly announced the successful completion of a pilot test of real transactions based on digital currencies from four countries or regions on the multilateral central bank digital currency bridge (mBridge) platform. Twenty commercial banks from the four regions completed cross-border trade-focused multi-scenario payment settlement transactions for their customers using the currency bridge platform. This is another example of digitization driving cross-border trade." |
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Post time 22-9-2023 11:43:33