The Monetary Authority of Macao announced that it has signed a memorandum of understanding with the People’s Bank of China to create a cooperation framework for cross-border interconnection of payment systems between Mainland China and Macao. The arrangement is intended to improve the efficiency of cross-border payments and the quality of payment services, supporting economic activity and the movement of people between the two regions. The two authorities committed to promote participation by financial institutions in both jurisdictions, with the stated aim of providing residents with safe, efficient and convenient channels for cross-border fund transfers.
Monetary Authority of Macao 2025-10-13
Monetary Authority of Macao and the People’s Bank of China sign MoU to interconnect cross-border payment systems between Mainland China and Macao
The Monetary Authority of Macao and the People’s Bank of China have signed a memorandum to establish a cooperation framework for cross-border payment system interconnection between Mainland China and Macao. This initiative aims to enhance payment efficiency and service quality, facilitating economic activity and mobility between the regions. The authorities will encourage financial institutions' participation to ensure safe and efficient cross-border fund transfers for residents.