--- title: "Hong Kong, Shanghai sign pact on digital trade finance, cross-border data link" description: "Hong Kong and Shanghai have signed a memorandum of understanding to enhance collaboration in digitized cargo trade finance and cross-border data integration. The agreement aims to promote the use of e" type: "news" locale: "en" url: "https://longbridge.com/en/news/277451786.md" published_at: "2026-03-02T11:07:53.000Z" --- # Hong Kong, Shanghai sign pact on digital trade finance, cross-border data link > Hong Kong and Shanghai have signed a memorandum of understanding to enhance collaboration in digitized cargo trade finance and cross-border data integration. The agreement aims to promote the use of electronic bills of lading and facilitate the integration of mainland China's trade data with the global ecosystem. This initiative is part of HKMA's Project CargoX, which seeks to modernize trade finance and strengthen Hong Kong's role as an international trading hub. The collaboration reflects ongoing growth in trade finance between the two regions despite international tensions. Hong Kong and Shanghai have signed an accord deepening their collaboration in promoting digitised cargo trade finance and strengthening mainland China’s connection to the global data ecosystem. The Hong Kong Monetary Authority (HKMA) on Monday signed a memorandum of understanding (MOU) with the Shanghai Data Bureau and the National Technology Innovation Centre for Blockchain, according to a statement from Hong Kong’s de facto central bank. “This marks an important milestone in the collaboration on financial innovation between Shanghai and Hong Kong, and underscores the joint commitment to strengthen collaboration between the two jurisdictions in digitised cargo trade and finance,” HKMA deputy chief executive Howard Lee Tat-chi said. 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. Project CargoX, part of HKMA’s fintech 2030 strategy, entails using blockchain and data to help exporters secure bank loans more easily and strengthen Hong Kong’s role as an international trading hub. The agreement reflects how mainland China and its financial centre, Shanghai, continue to see strong growth in trade finance despite international tension. In the first 11 months of 2025, China’s foreign trade container throughput rose 9.5 per cent year on year to 320 million 20-foot equivalent units (TEUs), contributing to a record US$1.19 trillion trade surplus for the full year, according to official data. China’s major ports helped drive that record. Shanghai, for example, handled container throughput of more than 50 million TEUs from January to November, surpassing 2024’s full-year total and putting it on track to set a new annual record, according to the Shanghai International Port Group. The MOU also represents the first major step forward in HKMA’s Project CargoX after the city’s de facto central bank unveiled a road map in January to introduce 20 measures under a five-year initiative. This road map aims to modernise the city’s trade finance landscape and strengthen connectivity with mainland China and the Asean trade corridors. “This collaboration will fully leverage Shanghai’s strengths in data integration and commercialisation, working in tandem with Hong Kong to realise innovative applications in digitised cargo trade and finance,” Shao Jun, director of the Shanghai Data Bureau, said. “We also look forward to showcasing a range of innovation outcomes through close cooperation, thereby injecting new momentum into Shanghai-Hong Kong digital collaboration.” ### Related Stocks - [000001.CN - SSE Index](https://longbridge.com/en/quote/000001.CN.md) - [00HSI.HK - Hang Seng Index](https://longbridge.com/en/quote/00HSI.HK.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Hong Kong 2026-27 budget: ‘Symphony of Lights’ to go dark under tourism revamp | Hong Kong will discontinue the two-decade-old "A Symphony of Lights" show, replacing it with immersive projections acros | [Link](https://longbridge.com/en/news/276972290.md) | | Hong Kong to offer 9 residential sites to developers in 2026-27 land sale plan | Hong Kong plans to offer nine residential sites to developers in the 2026-27 land sale program, aiming to provide approx | [Link](https://longbridge.com/en/news/277218051.md) | | Larsen and Toubro executes business transfer agreement for e-commerce platform | Larsen and Toubro executes business transfer agreement for e-commerce platform | [Link](https://longbridge.com/en/news/276719913.md) | | 02:16 ETTCL ElectronicsIncluded in Hang Seng Composite LargeCap & MidCap Index and Other Authoritative Indices | TCL Electronics Holdings Limitedhas been promoted to the Hang Seng Composite LargeCap & MidCap Index and other authorita | [Link](https://longbridge.com/en/news/277156251.md) | | DATATRAK Standalone eConsent Accelerates Clinical Trials \| DTRK Stock News | DATATRAK International, Inc. has launched a standalone eConsent solution that can be deployed in under four weeks, aimed | [Link](https://longbridge.com/en/news/277080013.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.