Hong Kong Monetary Authority, Shanghai Municipal Data Bureau, and National Blockchain Technology Innovation Center Sign Memorandum of Understanding

Odaily Planet Daily reports that the Hong Kong Monetary Authority, the Shanghai Municipal Data Bureau, and the National Blockchain Technology Innovation Center announced today that they have jointly signed the “Shanghai-Hong Kong Cargo Trade and Financial Digitalization Cooperation Memorandum,” to further promote in-depth cooperation between Shanghai and Hong Kong in digital empowerment of cargo trade and finance. Hong Kong’s unique advantages as a “super connector” and “super value creator” will be leveraged to facilitate internal and external connectivity, supporting Shanghai in connecting with the international data ecosystem through Hong Kong. According to the “Cooperation Memorandum,” the HKMA, Shanghai Municipal Data Bureau, and the National Innovation Center will jointly explore innovative cooperation in digital technology and applications, promoting digital technology application innovations in cargo trade, finance, and other fields. The parties will work together to explore the use of digital technology to build a “cross-border platform,” conduct cross-border financial cooperation within the Ensemble project, study the application of electronic bills of lading, and promote integration with Business Data Pass and CargoX to drive trade financing between the two regions through cargo and trade data. (Jin10)