Cross-boundary Payment Connect launched on 22 June 2025 to strengthen financial connectivity between the Mainland and Hong Kong and make cross-boundary remittances and the cross-boundary use of RMB easier.
Northbound remittances (Hong Kong to the Mainland)
- Limit of HKD 10,000 per person per day and HKD 200,000 per year; this is separate from the existing RMB 80,000 daily limit for same-name remittances.
- Available 24 hours a day; senders may remit in HKD or RMB, and recipients receive RMB.
Southbound remittances (Mainland to Hong Kong)
- Mainland residents can remit up to the current individual annual foreign-exchange purchase allowance of USD 50,000.
- Service hours are 7 am to 11 pm daily; Hong Kong recipients may receive HKD or RMB.
First participating institutions
- Mainland: ICBC, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, China Merchants Bank.
- Hong Kong: BOCHK, Bank of East Asia, CCB (Asia), Hang Seng Bank, HSBC, ICBC (Asia). Participation will be expanded gradually.
Please ask each participating institution about available remittance services, products, fees and conditions.