According to PANews, the Hong Kong Monetary Authority plans to announce the specific details of the launch of the digital RMB in Hong Kong this Friday. Currently, Hong Kong residents can open digital RMB wallets through Industrial and Commercial Bank of China, Bank of China, China Construction Bank and Bank of Communications. Citizens can use FPS to add value, deduct money directly from their RMB accounts, or deduct money from their Hong Kong dollar accounts and convert it into RMB instantly. In addition, bank cards can also be used to top up wallets. This move facilitates cross-border payments by Hong Kong residents in the Mainland and promotes financial connectivity between the two places.