The Cross-border Payment System has been officially launched today, marking a significant milestone in interconnecting Mainland China and Hong Kong's rapid payment systems. Residents of both regions can now conduct cross-border remittances in real time, with the inaugural nationwide transaction successfully completed in Shenzhen. Users simply need to input relevant details through their mobile banking apps to effortlessly complete the transaction, and they have the flexibility to choose either Renminbi (RMB) or Hong Kong dollars (HKD) as the currency for receipt.