On the morning of June 20, the People's Bank of China and the Hong Kong Monetary Authority jointly held the launch ceremony for the interconnection of the Mainland and Hong Kong Rapid Payment Systems. The People's Bank of China and the Hong Kong Monetary Authority jointly promote and support the cooperation of the interconnection of the Mainland and Hong Kong Rapid Payment Systems (hereinafter referred to as Cross-Border Payment Link) carried out by the People's Bank of China Clearing Center and the Hong Kong Interbank Clearing Limited. The Cross-Border Payment Link will be launched and operational on June 22, 2025. The launch of the Cross-Border Payment Link is beneficial to enhancing the efficiency and service level of cross-border payments between the two regions, facilitating cross-border trade activities and personnel exchanges, and consolidating and enhancing Hong Kong's status as an international financial center.