According to Foresight News, the Shanghai Securities News reported that on April 4, at the 2023 China Society of Finance Academic Annual Meeting and China Finance Forum Annual Meeting, the Chief Executive of the Hong Kong Monetary Authority, Eddie Yue, stated that the Hong Kong Monetary Authority will promote the research and application of cross-border payments in digital RMB; strengthen cooperation with the People's Bank of China to test cross-border payment tools in digital RMB in Hong Kong to improve cross-border service efficiency and user experience; cooperate with the Bank for International Settlements to actively promote the cross-border central bank digital currency (CBDC) work project mBridge, which involves many central banks including the People's Bank of China, to optimize cross-border payment processes, improve cross-border transaction efficiency, and reduce costs.