Hong Kong Monetary Authority: Encouraging Mainland enterprises to establish overseas business headquarters and corporate treasury centers in Hong Kong.

On August 30, Chen Weimin, Vice President of the Hong Kong Monetary Authority, stated at the 7th Greater Bay Area Financial Development Forum that the HKMA actively encourages Mainland companies to establish overseas business headquarters and corporate treasury centers in Hong Kong, coordinating the allocation of overseas funds. In terms of payments, the current global payment system still has pain points such as multiple middlemen and high payment costs. With the development of technology, these issues will gradually be resolved, one example being the application of blockchain technology in the payment field. Currently, Hong Kong is synchronously promoting the application of central bank digital currency and commercial bank currency, hoping to provide more convenient and cost-effective solutions for future cross-border trade and investment payments.