Hong Kong Monetary Authority (HKMA) has established a central bank digital currency (CBDC) expert group today and signed a memorandum of understanding with five local universities. Scholars from the five universities will participate in the research work of the expert group, and members will participate in a personal capacity. The group also brings together experts from multiple fields related to HKMA's CBDC research, covering business, computer science, economics, finance, and law. HKMA said that it hopes to promote cooperation and knowledge exchange with the academic community in CBDC research through the establishment of an expert group. The group will assist HKMA in researching major policy and technical issues related to CBDC, provide opinions and training on financial technology-related issues for HKMA, and hold seminars. The five local universities participating in the expert group include Chinese University, City University, Polytechnic University, Science and Technology University, and the University of Hong Kong. HKMA said that it will consider inviting overseas university scholars to participate in the future. The expert group has begun writing two research papers, the first of which is related to the privacy issues of CBDC, and the second explores the interoperability of CBDC. Lee Tat Chi, Deputy Chief Executive of HKMA, said that this cooperation will jointly explore the major policy and technical issues of CBDC at the wholesale and retail levels. The expert group will play an important role in assisting Hong Kong in consolidating its position in the field of CBDC research.