Central Bank Vice President Lu Lei: Some illegal foreign platforms transfer funds through virtual money and other channels, causing domestic and foreign risks to form a "resonance".

[Central Bank Vice Governor Lu Lei: Some overseas illegal platforms transfer funds through Virtual Money and other channels, forming a "resonance" of risks both domestically and internationally] Lu Lei, Vice Governor of the People's Bank of China, revealed at the 14th China Payment and Clearing Forum that significant progress has been made in cross-border QR code payment interconnectivity. Today, Alipay, a subsidiary of Ant Group, and Ant International have become the first batch of institutions to participate in the pilot of the cross-border QR code unified gateway business. Lu Lei emphasized that the systemic risk threats in the current payment industry are increasing. The scale of cross-border capital flows is expanding and the frequency is accelerating, which also provides opportunities for risks such as cross-border money laundering and terrorist financing. Some illegal overseas platforms are transferring funds through virtual money and underground banks, creating a "resonance" of risks both domestically and internationally, posing challenges to China's foreign exchange management and financial security.