Hong Kong's second phase of digital renminbi cross-border payment technology testing has been roughly completed

According to PANews news on June 17, according to Sing Tao Daily, the second phase of digital renminbi (eCNY) cross-border payment technology testing in Hong Kong in July last year has been largely completed. As the first BOCHK to participate in the test, it launched two priority experience activities from December last year to February this year, opening up a total of 2,100 customers to try the digital renminbi. Customers mainly consume in the Mainland, especially in small high-frequency transaction scenarios such as catering and retail, using digital renminbi. Market participants said frankly that the application scenarios of digital renminbi in Hong Kong are limited at this stage, even if there are not many application scenarios in the Mainland. In the second phase of the digital renminbi cross-border payment test, there are mainly four major banks including Bank of China, HSBC, Hang Seng and Standard Chartered participating in the test.
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