Hong Kong and Shanghai have signed a memorandum of understanding to collaborate on digital trade finance and cross-border data integration. The agreement aims to promote digitized trade finance, specifically exploring electronic bills of lading to replace paper documents.
A key objective is to facilitate the connection of mainland China's trade data with the international ecosystem through Hong Kong. This will involve using platforms like the HKMA's Commercial Data Interchange and CargoX to study electronic trade data flow.
The main topics covered are financial cooperation between Hong Kong and Shanghai, the digitization of trade finance, and cross-border data linkage initiatives.