Hong Kong Monetary Authority, Shanghai Data Bureau, and National Blockchain Technology Innovation Center sign memorandum of cooperation

Foresight News reported that the Hong Kong Monetary Authority, Shanghai Data Bureau, and the National Blockchain Technology Innovation Center jointly signed the "Memorandum of Cooperation on Digitalization of Shanghai-Hong Kong Freight Trade and Finance" today. This aims to further promote in-depth cooperation between Shanghai and Hong Kong in the fields of digital empowerment for freight trade and finance, leverage Hong Kong's unique advantages as a "super connector" and "super value-adder" to facilitate both domestic and international connectivity, and support Shanghai in connecting with the international data ecosystem through Hong Kong. According to the Memorandum, the Monetary Authority, Shanghai Data Bureau, and the Innovation Center will jointly research innovative cooperation in digital technology and its applications, and promote innovation in the application of digital technology in freight trade, finance, and other fields. All parties will jointly explore the use of digital technology to build a "cross-border platform," carry out cross-border financial cooperation in the Ensemble project, study how to apply electronic bills of lading, and advance integration with Commercial Data Interchange and CargoX, using freight and trade data to drive trade financing between the two regions.