On July 7, 2026, Wang Hongbo, Chairman of CIPS Co., Ltd., and Bonnie Chan, Group Chief Executive Officer of Hong Kong Exchanges and Clearing Limited, signed a memorandum of cooperation in Hong Kong. The signing was witnessed by Pan Gongsheng, Governor of the People's Bank of China, and John Lee, Chief Executive of the Hong Kong Special Administrative Region.

The signing of the memorandum with Hong Kong Exchanges and Clearing Limited is an important practical initiative through which CIPS supports the national 15th Five-Year Plan, promotes the global use of the RMB, and supports Hong Kong in consolidating and enhancing its status as an international financial centre. The initiative will help broaden the use cases for the RMB in cross-border transactions, continuously improve the development environment for the offshore RMB market, and provide stronger impetus for the global use of the RMB and Hong Kong's economic prosperity.