The Financial Secretary of Hong Kong will promote the use of digital Hong Kong dollars and digital renminbi for cross-border payment projects

In his speech on the 2023-2024 SAR Government Budget, the Financial Secretary of the Hong Kong Special Administrative Region Government, Chen Maobo, said, "We will continue to promote the application testing and preparation of various financial technology infrastructure projects, including the "Digital Hong Kong Dollar" and the "Digital Renminbi". ” for cross-border payment purposes. In addition, the HKMA is cooperating with the Bank of Thailand to discuss allowing tourists from the two places to pay locally with Hong Kong’s “Fast Speed” and Thailand’s “PromptPay” to provide passengers with an additional security and Fast and efficient payment options.