The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks co-organised Data Summit 2025, where the HKMA presented the latest developments and future roadmap for Commercial Data Interchange (CDI) aimed at improving trade finance processes and supporting small and medium-sized enterprise (SME) lending. The update focused on Project Cargox, open government data connectivity, new SME credit insights, and cross-boundary data validation. On Project Cargox, new members joined the Expert Panel and six pilot banks participating in the Transport and Logistics Bureau’s new trial phase of the Port Community System preliminarily validated the use of cargo data to verify trade authenticity, supporting more streamlined trade finance processing and stronger risk management. For open government data, the HKMA is working with the Government’s Digital Policy Office and the Commerce and Economic Development Bureau on a planned connection to the bureau’s Trade Single Window Phase 3 via the linkage between CDI and the Consented Data Exchange Gateway, enabling customers to authorise sharing of import and export declaration data with participating banks to help expedite loan approvals. On credit insights, the HKMA is advancing a proof-of-concept for Commercial Credit Reference Agency 2.0 to enable a corporate credit scoring model, with initial findings from nine pilot banks indicating the model can streamline SME loan applications and reduce borrowing costs. CDI also linked to the Shenzhen-Hong Kong cross-boundary data validation platform in April 2025, and banks have connected to use the arrangement for personal and corporate loan applications. Trade Single Window Phase 3 is targeted for phased rollout in 2026. The Digital Corporate Identity Platform is set to launch progressively from end-2026, with the HKMA planning to explore and design its use for electronic signing in CDI, and additional Project Cargox use cases are underway.

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