PBOC and HKMA Sign MOU on Cross-Boundary Linkage of Payment Systems between the Mainland and Hong Kong

Mr Lu Lei, Deputy Governor of the People's Bank of China (PBOC), and Mr Howard Lee, Deputy Chief Executive of the Hong Kong Monetary Authority (HKMA) met today (2 August) to exchange views on a range of topics of mutual interest, including financial cooperation between the Mainland and Hong Kong, as well as pushing forward the linkage of fast payment systems. They also signed the Memorandum of Understanding (MOU) between the PBOC and the HKMA on Cross-Boundary Linkage of Payment Systems between the Mainland and Hong Kong, establishing a cooperation framework for the linkage.