Data Summit 2025 held in Hong Kong on 28 July 2025, organized by HKMA and HKAB, discussed enhancing trade finance and SME lending using advanced data infrastructure.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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The Hong Kong Monetary Authority ("HKMA") and the Hong Kong Association of Banks ("HKAB") successfully co-organised the Data Summit 2025 on 28 July. Attendees included around 800 senior executives and industry professionals from approximately 100 organisations.
The Summit, themed 'Empowering business and trade through advanced data infrastructure', explored the potential of data infrastructure to enhance trade finance processes and facilitate small and medium-sized enterprise ("SME") lending.
The Summit's keynote addresses and panel discussions covered four key areas: Project Cargox, open government data, SME credit insights, and cross-boundary data validation. Additionally, 15 CDI partner institutions showcased commercial data innovations.
The HKMA presented the latest developments and future roadmap for the Common Data Infrastructure ("CDI"), including Project Cargox and new member experts enhancing the digital trade finance ecosystem.
Project Cargox: Six pilot banks validated cargo data's effectiveness in verifying trade authenticity and streamlining trade finance processes.
Open government data: Collaboration among the HKMA, Digital Policy Office, and Commerce and Economic Development Bureau is connecting CDI with the Trade Single Window Phase 3, enabling faster loan approvals. The DPO’s Digital Corporate Identity (CorpID) Platform is scheduled to launch in 2026.
Credit insights: The HKMA’s proof-of-concept project on Commercial Credit Reference Agency ("CCRA") 2.0 demonstrated the potential to streamline loan applications and reduce borrowing costs for SMEs.
Cross-boundary data validation: CDI successfully linked with the Shenzhen-Hong Kong cross-boundary data validation platform in April 2025.
Mr Eddie Yue, Chief Executive of the HKMA, stressed the significance of data interconnectivity and collaboration for empowering financial institutions, data providers, and SME traders.
Ms Mable Chan, Secretary for Transport and Logistics, underscored Hong Kong's strategic role as a key financial, trade, and shipping hub leveraging data for connectivity.
Mr Fred Lam, Chairman of the Airport Authority Hong Kong, spoke about the HKIA Cargo Data Platform, which uses advanced technologies to facilitate SME financing and enhance credit risk management.
Ms Mary Huen, Chairperson of the HKAB, encouraged member banks to participate in CDI initiatives for streamlined loan approvals and improved credit risk management.
Key figures included Mr Eddie Yue, Ms Mable Chan, Mr Fred Lam, Mr Donald Mak, Mr Wang Huabin, Mr Adrian Li, Ms Diana Cesar, Ms Luanne Lim, Mr Wallace Lam, and Ms Mary Huen, alongside executives from six Cargox pilot banks.
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