Hong Kong, Shanghai Sign MOU for Blockchain-Based Cargo, Finance Data

The Hong Kong Monetary Authority (HKMA), the Shanghai Data Bureau (SDB), and the National Technology Innovation Center for Blockchain (NTICBC) signed a memorandum of understanding (MoU) to deepen collaboration on digitizing cargo trade and finance documentation using blockchain technology. The partnership will involve joint research on a cross-border platform linking trade data, electronic bills of lading, and financial applications, leveraging the HKMA’s Project Ensemble and the Commercial Data Interchange (CDI). Officials from both sides hailed the agreement as a significant milestone for digital innovation, aiming to explore linking digital infrastructure between the two cities. Separately, Hong Kong is also advancing its digital asset policy by proposing tax exemptions for profits from digital assets held by investment funds and family offices to attract more capital.

(Source：Cointelegraph)