The Hong Kong Monetary Authority, the Shanghai Municipal Bureau of Data, and the National Blockchain Technology Innovation Center signed a memorandum of understanding.

The Hong Kong Monetary Authority (HKMA), the Shanghai Municipal Bureau of Data and Information Technology (Shanghai), and the National Blockchain Technology Innovation Center (NCIC) announced today that they have jointly signed a Memorandum of Understanding (MOU) on Digital Cooperation in Freight Trade and Finance between Shanghai and Hong Kong. This MOU aims to further promote in-depth cooperation between the two cities in areas such as digitally empowering freight trade and finance, leveraging Hong Kong's unique advantages as a "super-connector" and "super-value-added agent" to facilitate domestic and international connectivity, and supporting Shanghai's connection with the international data ecosystem through Hong Kong. According to the MOU, the HKMA, Shanghai Municipal Bureau of Data and Information Technology (Shanghai), and NCIC will jointly study innovative cooperation in digital technology and applications, promoting the innovative application of digital technology in freight trade and finance. The parties will jointly explore the use of digital technology to build a "cross-border platform," conduct cross-border financial cooperation in the Ensemble project, study the application of electronic bills of lading, and promote integration with Business Data Connect and CargoX to drive trade finance between the two cities using freight and trade data. (Jinshi)