The People's Bank of China (PBOC) and the Monetary Authority of Macao (AMCM) signed the Memorandum of Understanding (MOU) between the PBOC and the AMCM on Cross-Border Connectivity of Payment Systems between the Mainland and Macao on October 13, 2025. The PBOC and the AMCM will strengthen exchanges and cooperation on cross-border connectivity of payment systems, further enhance the efficiency and quality of cross-border payment services, thereby better facilitating economic and trading activities and people-to-people exchanges between the Mainland and Macao.