Hong Kong And Shanghai Sign MOU To Boost Collaboration In Digitised Cargo Trade And Cross-Border Finance

Hong Kong Monetary Authority (HKMA), Shanghai Data Bureau (SDB), and the National Technology Innovation Center for Blockchain (NTICBC) have signed a memorandum of understanding (MOU) to enhance collaboration between Shanghai and Hong Kong in digitised cargo trade and finance.

The agreement is intended to deepen cooperation in areas such as digital cargo trading and financial services, leveraging Hong Kong’s role as a “super connector” and “super value-adder” to link Shanghai with the international data ecosystem. The MOU outlines joint research initiatives on digital technology and its practical applications, including the development of a “cross-border platform” to support cross-border financial cooperation and the use of electronic bills of lading (eBL) under Project Ensemble. 

The collaboration will also examine trade finance facilitation through integration with cargo and trade data systems, including the Commercial Data Interchange (CDI) and CargoX.

Deputy Chief Executive of the HKMA, Howard Lee, described the agreement as a milestone in fostering cooperation on financial innovation, particularly in the areas of digitised cargo trade and finance. He emphasized that the partnership aims to advance digital applications in trade and finance, develop a digital infrastructure linking the two cities, promote the digitalisation of trade finance, and integrate cargo and trade data from the Chinese Mainland with the international data ecosystem through Hong Kong.

Dr Shao Jun, Director of the Shanghai Data Bureau, said the MOU represents a key step in enhancing Shanghai-Hong Kong data cooperation. He highlighted the focus on creating a secure, efficient, and open digital infrastructure, leveraging Shanghai’s capabilities in data integration and commercialisation. 

The collaboration is expected to support new applications in digitised cargo trade and finance and to generate a range of demonstrable outcomes, strengthening the momentum of digital collaboration between the two jurisdictions.

Shanghai And Hong Kong Strengthen Cooperation On Compliant Digital Asset Ecosystems

The cities of Shanghai and Hong Kong have been strengthening cross‑regional cooperation to develop compliant digital asset ecosystems, focusing on tokenisation, regulatory alignment, and technology integration. 

In recent years, partnerships between Shanghai-based financial and technology institutions and Hong Kong-licensed digital asset exchanges have aimed to explore regulated digital finance solutions, including tokenised financing and integration of traditional financial services with blockchain technology. These initiatives are intended to support secure, compliant digital asset markets, promote innovation in cross-border digital finance, and enhance coordination between the two jurisdictions in areas such as data integration, trade finance, and blockchain-based services.

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