Cutting-Edge TEC

China, Hong Kong Launch Cross-Border Payment Connect System

China’s central bank and Hong Kong’s monetary authority launched "Payment Connect" on June 22, linking mainland China’s Online Interbank Payment Clearing System (IBPS) with Hong Kong’s Faster Payment System (FPS) to enable real-time cross-border remittances. The initiative, announced in a joint statement on June 20, aims to streamline cross-border transactions for residents in both regions.

UK Unveils New Policies to Bolster AI, Quantum Computing with Funding and Talent Drive

The UK government has introduced a series of new policies to significantly boost support for emerging technologies such as artificial intelligence and quantum computing. On June 22, it announced the establishment of a “Global Talent Fund” with an investment of £54 million to attract world-leading researchers to the UK. A “Global Talent Taskforce” was also set up, dedicated to recruiting scientists, engineers, and creative talents—with a special focus on key areas like AI and green technology—and encouraging them to innovate and develop long-term in the UK.