The Hong Kong Monetary Authority and mainland institutions aim to develop a blockchain-based platform for cargo trade, integrating e-bills of lading with key data systems.
The Hong Kong Monetary Authority, Shanghai Municipal Data Bureau, and National Blockchain Technology Innovation Center signed a memorandum of understanding to advance cargo trade and finance digitalization. The collaboration will explore a cross-border platform under the Ensemble project, use e-bills of lading, and connect with Commercial Data Interchange and CargoX. This initiative aims to improve efficiency, transparency, and trust in trade finance between Hong Kong and mainland China.