The development of digital RMB in Hong Kong is accelerating, with the central bank and the Hong Kong Monetary Authority discussing the upgrade of digital currency wallets.

On March 25, the Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, stated in response to questions from legislators that the central bank and the Hong Kong Monetary Authority are exploring the arrangements and feasibility of upgrading digital currency wallets to increase usage limits, expand application scenarios, and enhance user experience. As the policy and technical details involved still need further discussion, specific plans and timelines are yet to be finalized. Hui also disclosed the latest development data of the digital RMB in Hong Kong, indicating that the promotion and implementation of local digital RMB have seen a significant development, with a substantial increase in the number of wallet openings and merchant acceptance scale, marking the official entry into a fast lane of the digital payment era in Hong Kong.