HKMA and PBoC Launch Payment Connect for Instant Cross-Boundary Payments on June 22, 2025.

HKMA and PBoC launch Payment Connect

The following is issued on behalf of the Hong Kong Monetary Authority:

The Hong Kong Monetary Authority (HKMA) and the People's Bank of China (PBoC) announced today (June 20) the launch of Payment Connect on June 22, 2025. A launch ceremony for Payment Connect was held in Beijing today. The Governor of the PBoC, Mr Pan Gongsheng; Deputy Director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the Hong Kong and Macao Affairs Office of the State Council Mr Wang Linggui;and the Chief Executive of the HKMA, Mr Eddie Yue,attended the ceremony and delivered remarks. The ceremony was officiated by Deputy Governor of the PBoC Mr Lu Lei. Representatives from system operators and participating institutions from the Mainland and Hong Kong also attended the ceremony.

Payment Connect refers to the linkage between the Mainland's Internet Banking Payment System (IBPS) (Note 1)and Hong Kong's Faster Payment System (FPS) (Note 2), which supports secure, efficient and convenient real-time cross-boundary payment for residents and institutions in both places. By simply inputting the recipient's mobile number or account number, residents in both places can make instant small-value cross-boundary remittances.

Mr Yue said, "Payment Connect is one of the key initiatives in strengthening co-operation between the Mainland and Hong Kong. The connection between the faster payment systems in both places enhances the efficiency of cross-boundary payments, supporting trade activities and personnel exchange. This development will further promote Hong Kong's position as an international financial centre and offshore Renminbi business hub. Payment Connect will cater to the daily needs of residents in both places for cross-boundary remittances and payments. It also signifies another milestone for the FPS in expanding cross-boundary payment."

Six institutions each from the Mainland and Hong Kong (Annex) will participate in the Payment Connect upon its launch. They will roll out the service gradually and more institutions will join over time.

Note 1: The Mainland China's Internet Banking Payment System (IBPS) is the faster payment system in the Mainland, built by the China National Clearing Center under the guidance of the People’s Bank of China. IBPS enables user to make real-time cross-bank retail payment transactions through the mobile banking or online banking of his/her bank. By using the system, user can handle cross-bank account management, fund transfer, fund consolidation and other services without leaving home, and obtain instant transaction processing results.

Note 2: The HKMA launched the Faster Payment System (FPS) in September 2018. This system connects banks and stored-value facility operators (SVFs), enabling the public to make real-time cross banks and cross SVFs fund transfers anytime and anywhere, by using the recipient's mobile number or email address.

HKMA and PBoC launch Payment Connect Source: HKSAR Government Press Releases

HKMA and PBoC launch Payment Connect Source: HKSAR Government Press Releases

HKMA and PBoC launch Payment Connect Source: HKSAR Government Press Releases

HKMA and PBoC launch Payment Connect Source: HKSAR Government Press Releases

HKMA and PBoC launch Payment Connect Source: HKSAR Government Press Releases

Chinese medicine sector fully supports residents affected by Tai Po Wang Fuk Court fire by providing free Chinese medicine consultation services

The Health Bureau (HHB) announced today (December 14) that free Chinese medicine (CM) consultation services will be provided to residents affected by the fire at Wang Fuk Court in Tai Po starting tomorrow (December 15). In addition, various CM services will also be deployed to fully address their medical needs.

Free Chinese medicine consultation services

To ensure the affected residents receive more comprehensive medical support, free CM consultation services will be launched starting tomorrow. Under the co-ordination of the Primary Healthcare Commission (PHC Commission) and the Chinese Medicine Unit of the HHB, 150 CM practitioners have participated in the free CM consultation services, covering more than 170 service points. Starting from tomorrow until February 28, 2026, all residents of the eight blocks at Wang Fuk Court (including foreign domestic helpers) can receive up to three free CM consultation services, including the provision of medication and related treatments based on their clinical needs, through the arrangement of the District Health Centres/ District Health Centre Expresses (collectively referred to as DHCs) across all 18 districts in Hong Kong. The scope of free CM consultation services covers health conditions that may arise after the fire, such as emotional changes, insomnia, palpitations; coughing, wheezing, dry throat, and itchy throat; physical weakness, fatigue, loss of appetite, dyspepsia; as well as pain and musculoskeletal injuries.

Affected residents with medical needs can call the hotlines or visit any DHC in person to seek assistance, regardless of their current place of residence. Those who are registered DHC members may also contact their respective DHC directly. The hotlines have been posted on the websites of the PHC Commission and the DHCs. Case managers of the DHCs will pair them with CM practitioners participating in the free CM consultation scheme based on their individual situation and preferences.

The Chinese Medicine Hospital of Hong Kong

All residents of the eight blocks at Wang Fuk Court (including foreign domestic helpers), and all individuals injured in the fire and admitted to public hospitals under the Hospital Authority (HA) can receive full fee waivers at the Chinese Medicine Hospital of Hong Kong (CMHHK) until December 31, 2026. The waivers cover all government-subsidised services of CMHHK, including General Clinic, Specialised Clinic, Allied Health Services, day-patient services, as well as special Western medicine diagnostic procedures and medications (discharge medication collection). Relevant individuals can identify themselves to CMHHK and provide basic personal information (including name, identity card number and residential address) during consultations to facilitate the arrangement.

Chinese Medicine Clinics cum Training and Research Centres located in 18 districts

Following the fire, the Chinese Medicine Clinics cum Training and Research Centres (CMCTRs) under the HA promptly provide support in Sha Tin District, Tai Po District, and North District through enhancing CM services, arranging rescheduling of appointments, and re-dispensing of Chinese medicines.

Starting from December 2, the 18 CMCTRs have been fully supporting all residents of the eight blocks at Wang Fuk Court (including foreign domestic helpers). They are eligible for full medical fee waivers until December 31 2026, covering government-subsidised CM outpatient services, including general consultation, acupuncture and bone-setting/tui-na. Relevant individuals can call the CMCTRs during their service hours or make an appointment via the "18 CM Clinics" mobile application. They shall identify themselves to the CMCTRs and provide basic personal information (including name, identity card number and residential address) upon registration to proceed with the arrangement. The CMCTRs will provide priority booking for the affected residents. In addition, the Integrated Chinese-Western Medicine Services under the HA's public hospitals/ambulatory care centres/out-patient clinics (currently available for six selected disease areas) will also waive service fees for relevant individuals.

Information about the 18 CMCTRs can be found on the HACMK website.

The HHB expresses gratitude to the CM sector and non-governmental organisations for their dedication to providing various CM support to the affected residents. The Government will continue to co-ordinate various medical services to support the physical and mental health needs of the residents.

Source: AI-found images