HKMA and PBoC extend e-CNY pilot to Hong Kong residents

E-CNY wallet users can top up their wallets through 17 partner banks.

The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBoC) extended the e-CNY pilot in Hong Kong to set up e-CNY wallets for Hong Kong residents.

The e-CNY will offer Hong Kong and Mainland residents a safe, convenient, and innovative cross-border retail payment service.

Users can set up e-CNY personal wallets using their Hong Kong mobile phone numbers and top up via the Faster Payment System (FPS) through 17 retail banks, including the Bank of China, China Construction Bank, and Industrial and Commercial Bank of China.

Currently, users can only utilise e-CNY wallets for cross-border transactions, not for person-to-person transactions.