Hong Kong and Shanghai Ink Digitized Cargo Trade MOU
Authorities in Hong Kong and Shanghai have signed a memorandum of understanding to collaborate on the application of innovative technologies in cargo trade and finance.
The Hong Kong Monetary Authority (HKMA), the Shanghai Data Bureau (SDB), and the National Technology Innovation Center for Blockchain (NTICBC) have jointly signed a memorandum of understanding (MOU) between Shanghai and Hong Kong on digitized cargo trade and finance cooperation, according to a statement.
Under the MOU, research will be jointly conducted on digital technology and its applications, including on the prospects of developing a cross-border platform with the use of electronic bills of lading as well as facilitating trade finance through cargo and trade data.
«This collaboration will fully leverage Shanghai’s strengths in data integration and commercialization, working in tandem with Hong Kong to realize innovative applications in digitized cargo trade, and finance,» said SDB director Shao Jun. «We also look forward to showcasing a range of innovation outcomes through close cooperation, thereby injecting new momentum into Shanghai-Hong Kong digital collaboration.»
