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

Deep Tide TechFlow News, March 2nd, Hong Kong Monetary Authority, Shanghai Data Bureau, and the National Blockchain Technology Innovation Center jointly signed the “Shanghai-Hong Kong Cargo Trade and Financial Digital Cooperation Memorandum” today 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” are 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 Data Bureau, and the National Blockchain Innovation Center will jointly research innovative cooperation in digital technology and applications, promoting digital technology application innovations in cargo trade, finance, and other fields. The parties will explore building a “cross-border platform” using digital technology, 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.