Hong Kong Monetary Authority, Shanghai Municipal Data Office, and China National Center for Blockchain Innovation signed a Memorandum of Understanding on Cooperation

BlockBeats News, March 2nd, the Hong Kong Monetary Authority, the Shanghai Municipal Bureau of Data, and the China National Center for Blockchain Innovation jointly signed the "HK-SH Cross-boundary Freight Trade and Financial Digitalization Cooperation Memorandum" today to further promote the deep cooperation between Shanghai and Hong Kong in the digital empowerment of freight trade and finance, leveraging Hong Kong's unique advantages as a "super-connector" and "super value-added enhancer" to facilitate internal and external connectivity, and support Shanghai in connecting with the international data ecosystem through Hong Kong.

According to the Memorandum of Cooperation, the Hong Kong Monetary Authority, the Shanghai Municipal Bureau of Data, and the National Center for Innovation will conduct joint research on the innovation cooperation of digital technology and applications, promote the innovative application of digital technology in the fields of freight trade, finance, etc. All parties will jointly explore the use of digital technology to build a "cross-border platform," carry out cross-border financial cooperation in the Ensemble project, study how to apply electronic bills of lading, and promote integration with commercial data exchange and CargoX to drive trade finance between the two places through freight and trade data.