Xu Zhengyu: Hong Kong is exploring the enhancement of the usage limit for digital renminbi wallets and will implement specific plans and timelines

ChainCatcher news, the Secretary for Financial Services and the Treasury of Hong Kong, Hui Chengyu, stated that the Monetary Authority has been maintaining close communication with the Digital Currency Research Institute of the People's Bank of China and the mainland operating institutions' sub-banks in Hong Kong. The number of local retail points accepting digital RMB in Hong Kong is gradually increasing. The Monetary Authority will continue to cooperate with the People's Bank of China to promote the cross-border pilot process of digital RMB in Hong Kong. Currently, discussions are underway regarding the upgrade arrangements and feasibility of digital currency wallets to increase the usage limit of digital currency wallets, with specific plans and timelines to be implemented.