The Chief Executive of the Hong Kong Monetary Authority, Eddie Yue, announced at a financial forum that Hong Kong will continue to leverage its advantages as an international financial center to support the development of the mainland's financial market and better serve the real economy.

The Hong Kong Monetary Authority is upgrading the functionality of the Central Moneymarkets Unit of its debt securities settlement system, establishing market connections and promoting it as an International Central Securities Depository. It will also collaborate with the International Settlement Bank and actively promote the mBridge project to optimize cross-border payment processes, improve transaction efficiency, and reduce costs.

Yue also revealed that the Hong Kong Monetary Authority will promote research and application of digital RMB cross-border payments, test digital RMB cross-border payment tools in Hong Kong, and collaborate with the People's Bank of China to improve service efficiency and user experience.