Hong Kong and Shanghai Collaborate on Blockchain Solutions for Cross-Border Trade

Hong Kong and Shanghai are strengthening their collaboration in the field of blockchain technology, with the aim of enhancing cross-border trade and finance.

The Hong Kong Monetary Authority (HKMA), the Shanghai Data Bureau (SDB), and the National Technology Innovation Center for Blockchain (NTICBC) have signed a Memorandum of Understanding (MoU) to advance cooperation in financial services and digital cargo trade.

Under the agreement, joint research will be conducted on the practical application of digital technologies in trade and trade finance. A key focus is the development of a cross-border platform that facilitates electronic bills of lading and enhances financial cooperation between the two cities.