The first local bank in the country to access cross-border payment services lands in Zhejiang.

Chouzhou Bank announced this morning that its "Cross-Border Payment Pass" service is officially launched, making it the first local corporate bank in the country to offer this service. It is reported that Chouzhou Bank's "Cross-Border Payment Pass" service supports two-way payment, meaning it supports remittances from the mainland to Hong Kong and from Hong Kong to the mainland. According to the Hong Kong Monetary Authority's website, the list of participating institutions for the Cross-Border Payment Pass was last updated on July 20, and Chouzhou Bank has not yet been included. Previously, a spokesperson for the Hong Kong Monetary Authority indicated that the latest list of participating institutions would be updated in due course.