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-Boundary Linkage of Payment Systems between the Mainland and Macao today (13 October), establishing a cooperation framework to enhance the efficiency and quality of cross-boundary payment services between the Mainland and Macao. The PBOC and the AMCM will facilitate financial institutions from both sides to provide residents with safe, efficient, and convenient cross-boundary fund transfer channels.