Hong Kong Monetary Authority, Shanghai Data Bureau, and National Technology Innovation Center for Blockchain sign MoU to strengthen Shanghai-Hong Kong cooperation in digitised cargo trade and finance.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On March 2, 2026, the Hong Kong Monetary Authority ("HKMA"), the Shanghai Data Bureau ("SDB"), and the National Technology Innovation Center for Blockchain ("NTICBC") executed a Memorandum of Understanding ("MoU") to cooperate on the digitization of cargo trade and finance.
The MoU capitalizes on Hong Kong's position as a global trade hub to support Shanghai's integration into the international data network.
The collaborative effort will include joint research on digital technology applications and the development of a cross-border platform for financial cooperation and electronic bills of lading ("eBL").
The HKMA, SDB, and NTICBC will engage with the Commercial Data Interchange ("CDI") and Cargox to facilitate trade finance and the integration of cargo and trade data.
Mr. Howard Lee, Deputy Chief Executive of the HKMA, expressed satisfaction with the signing, highlighting its role in fostering digital innovation between Shanghai and Hong Kong.
Dr. Shao Jun, Director of the SDB, emphasized the importance of this collaboration in achieving data-driven and innovative development.
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