According to PANews, the Hong Kong Monetary Authority (HKMA) is set to announce the specifics of the digital yuan's launch in Hong Kong this Friday. Currently, Hong Kong residents can open digital yuan wallets through the Industrial and Commercial Bank of China, Bank of China, China Construction Bank, and Bank of Communications.
Residents can add value to their wallets through the Faster Payment System, with funds directly debited from their yuan accounts, or from their Hong Kong dollar accounts with immediate conversion to yuan. Additionally, bank cards can be used to top up the wallets. This move facilitates cross-border payments for Hong Kong residents in mainland China, promoting financial interconnectivity between the two regions.