[Hong Kong Monetary Authority Chen Weimin: cross-border central bank digital currency project is progressing smoothly] May 11, Deputy Chief Executive of the Hong Kong Monetary Authority Chen Weimin said at the Tsinghua Wudaokou Dawan area (Shenzhen) Financial Forum, the Hong Kong Monetary Authority is working with the people's Bank of China to test the digital RMB as a cross-border payment tool in Hong Kong to enhance service efficiency and user experience. In the future, it can provide an additional safe, convenient and innovative option for cross-border payment. Chen Weimin also said that the cross-border central bank digital currency project jointly participated by the Hong Kong Monetary Authority, the people's Bank of China Digital money Institute, the Bank for International Settlements and two other overseas central banks is progressing smoothly and has been conducted through real transactions. Prove its feasibility and practicality. With the continuous deepening of the implementation of the project, the wide application in the future can fundamentally solve the long-standing pain points such as many intermediate links, high cost and slow speed of cross-border payment, and greatly improve the efficiency of cross-border capital flow of enterprises in the Great Bay area.