Vice President of the Hong Kong Monetary Authority: mBridge is currently the world's largest cross-border central bank digital currency pilot project, and will continue to fully support the development of digital renminbi

According to the Shanghai Securities News China Securities Network, Li Dazhi, vice president of the Hong Kong Monetary Authority, delivered a keynote speech at the 2022 Financial Street Forum Annual Conference yesterday, saying that Hong Kong is exploring the development of digital finance. The currency bridge (mBridge) project has entered the trial stage from the experimental stage. It is currently the largest cross-border central bank digital currency (CBDC) trial project in the world. It is also the first project to use multiple CBDCs to conduct real settlement for cross-border transactions of enterprises. , can be said to be "leading the world". As far as the development of digital renminbi is concerned, Li Dazhi said that Hong Kong is the first cross-border pilot area for digital renminbi outside the mainland. At present, relevant technical testing has entered the second stage, the scope and scale of the testing have been expanded, and the number of participating banks has changed from one to four. Hong Kong will continue to fully support the development of digital renminbi, and promote the interconnection of the Guangdong-Hong Kong-Macao Greater Bay Area, so that cross-border payment services can be accelerated and improved.