‘This marks an important milestone in the collaboration on financial innovation between Shanghai and Hong Kong,’ HKMA’s Howard Lee says
The MOU, according to Lee, would help the three signatories explore and promote digitised trade finance, as well as facilitate the integration of mainland China’s cargo and trade data with the international data ecosystem via Hong Kong.
Under the agreement, Hong Kong and Shanghai will explore using electronic bills of lading instead of traditional paper documents, while the electronic trade data will be studied via the HKMA’s Commercial Data Interchange (CDI) and CargoX.
