{"id":42438,"date":"2021-05-13T17:39:44","date_gmt":"2021-05-13T14:39:44","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=42438"},"modified":"2025-08-30T23:13:28","modified_gmt":"2025-08-30T20:13:28","slug":"hong-kong-and-china-to-expand-testing-of-the-digital-yuan-in-cross-border-payments","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/hong-kong-and-china-to-expand-testing-of-the-digital-yuan-in-cross-border-payments\/","title":{"rendered":"Hong Kong and China to expand testing of the digital yuan in cross-border payments"},"content":{"rendered":"<p>Hong Kong authorities are in talks with China to expand testing of the digital yuan (DCEP) in cross-border transactions. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-05-13\/hong-kong-looks-to-expand-cross-border-tests-of-digital-yuan?sref=AACmJ2tc\" target=\"_blank\" rel=\"noreferrer noopener\">Bloomberg <\/a>, citing the Hong Kong Monetary Authority (HKMA), reports this.<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/peoples-bank-of-china-and-hong-kong-to-deploy-the-digital-yuan-in-cross-border-payments\">The first phase of testing<\/a> of the instrument has been completed successfully. The regulator conducted the tests in cooperation with the Institute of Digital Currency Research of the People\\&#8217;s Bank of China. The work also involved a state-appointed Chinese commercial bank and business representatives.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe tested the corresponding app, the system connection and some deployment options, such as international purchases. Together with the People\\&#8217;s Bank of China we are working on the next stage of technical testing, including expanding and deepening the use of the DCEP in cross-border payments,\u201d said a representative of the HKMA.<\/p>\n<\/blockquote>\n<p>MyBank online banking will <a href=\"https:\/\/u1f987.com\/en\/news\/alipay-users-to-test-the-digital-yuan\">to conduct DCEP transactions<\/a> in the Alipay app.<\/p>\n<p>In April, the online retailer JD.com said that since January it has been paying some employees <a href=\"https:\/\/u1f987.com\/en\/news\/jd-com-adopts-the-digital-yuan-for-payroll\">a salary in the digital yuan<\/a> and uses it in interbank and commercial settlements.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hong Kong authorities are in talks with China to expand testing of the digital yuan (e-CNY) in cross-border transactions.<\/p>\n","protected":false},"author":1,"featured_media":42439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,133,832,1369],"class_list":["post-42438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-china","tag-hong-kong","tag-yuan"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=42438"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42438\/revisions"}],"predecessor-version":[{"id":42440,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42438\/revisions\/42440"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/42439"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=42438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=42438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=42438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}