Latest news with #HKers
RTHK
2 hours ago
- Business
- RTHK
HKers can use FPS for payments up north from Sunday
HKers can use FPS for payments up north from Sunday HKMA chief executive Eddie Yue says Payment Connect will allow local residents to make transfers of small sums in a much simpler way. Photo: RTHK China's central bank governor Pan Gongsheng hails Payment Connect as a milestone in deepening financial connectivity between Hong Kong and the mainland. Photo: RTHK Residents from Hong Kong and the mainland will soon be able to use a new fast payment tool to conduct cross-border transactions involving small sums in real time from Sunday, with monetary authorities from both sides hailing the launch as a milestone in deepening connectivity. The announcement came after the Hong Kong Monetary Authority's launch on Friday of the cross-border payment method, Payment Connect, which links its electronic payment network – Faster Payment System (FPS) – with the mainland's Internet Banking Payment System. The linkage allows cross-bank transactions using simply the recipients' mobile numbers or account numbers, with small-value payments settled instantly at any time. "I'm very much looking forward to Sunday when we will further connect the fast payment systems between Hong Kong and the mainland using Payment Connect, as it breaks through the boundaries of time and place," HKMA chief executive Eddie Yue said at the launching ceremony in Beijing. "Residents from both places will only need to click on our phones, enter the recipient's mobile phone number, and they can easily make small personal remittances or pay for various living expenses [using it], achieving simple and immediate transfers," he said, adding that the FPS system has been very popular among Hong Kong residents since 2018. Under the new service, residents can use FPS to transfer small sums of up to HK$10,000 each day per account to the mainland, while the total annual remittance limit is set at HK$200,000. And such transfers will not affect another 80,000 yuan of northbound daily quota set for local residents. While there's no limit set for mainland residents using the tool for southbound transfers, they will still be subject to the current annual foreign exchange quota of US$50,000 per person. The launch of the tool also comes as the number of FPS users closes on 17 million, with one million new accounts being set up in the first five months of the year. The number of registered users is far more than the total population of Hong Kong as an individual can have more than one account. For his part, People's Bank of China governor Pan Gongsheng said the launch marks another milestone in the deepening of financial connectivity between Hong Kong and the mainland, as Beijing highly values the SAR as a global financial centre. "The cross-border Payment Connect, which is directly connected to the infrastructure of the monetary authorities of the two places, provides online fast bilateral local currency and bilateral renminbi remittance services for residents of the two places, which will further enhance the efficiency and experience of cross-border payments," he said. "It'll also provide conveniences for economic and trade cooperation as well as personnel exchanges between Hong Kong and the mainland, injecting new vitality into Hong Kong's development while further promoting the cross-border adoption of the renminbi," he added. The two sides have been working on the service since August. The new tool will see six SAR banks join the first batch of institutions to provide such services – Bank of China (Hong Kong), HSBC, Hang Seng Bank, Bank of East Asia, as well as two state-backed lenders. There'll also be six mainland banks supporting the tool.
RTHK
10 hours ago
- Politics
- RTHK
2 HKers among Chinese nationals evacuated from Israel
2 HKers among Chinese nationals evacuated from Israel Foreign nationals have been leaving Israel since the conflict with Iran began last week. Photo: Reuters The Chinese Embassy in Cairo said 119 Chinese citizens have been evacuated from Israel to Egypt on Thursday through the Taba border crossing in South Sinai province. After completing the necessary procedures, the evacuees entered Egypt from the crossing around 15:30 local time (12:30 GMT) and were then guided onto buses. According to embassy officials, the people evacuated from Israel included 117 students and two Hong Kong residents, who would be transferred to Cairo. "China is highly concerned about our compatriots overseas. Their well-being and safety are always our priority," said Liao Liqiang, Chinese Ambassador to Egypt. "We completed all preparatory work efficiently within 24 hours and dispatched an action group to Taba overnight to organise the process of entry," Liao said, adding the embassy worked closely with relevant Egyptian departments overnight to request passage permits, necessary assistance, and security guarantees. Sun Xue, a postdoctoral fellow at the Hebrew University of Jerusalem, said the journey from Jerusalem to the Taba border crossing took about four hours. "During the entry process at the crossing, staff and volunteers from the Chinese Embassy in Egypt provided warm assistance and coordination. We are truly grateful to them," Sun said. (Xinhua)
