The Hong Kong Monetary Authority has established an Expert Panel on Project Cargox to strengthen Hong Kong’s digital trade finance ecosystem by using cargo data, building on the HKMA’s Commercial Data Interchange (CDI). Project Cargox is a multi-year public-private collaboration aimed at using cargo data to streamline trade finance processes, developing digital solutions to improve small and medium-sized enterprises’ access to trade finance, and exploring links with international data partners to support Hong Kong banks’ trade financing use cases. The Expert Panel brings together cargo data providers, trade associations, banks, credit reference agencies and government agencies, and is tasked with producing a roadmap by end-2025 for digitising cargo data across sea, road and air transport and integrating relevant cross-jurisdiction cargo data sources with CDI. With the panel’s recommendations, the HKMA plans proof-of-concept studies and the development of new solutions with strategic partners including the Airport Authority Hong Kong and the Transport and Logistics Bureau, alongside pilot banks, during 2025 and 2026.
Hong Kong Monetary Authority 2025-04-28
Hong Kong Monetary Authority establishes Expert Panel for Project Cargox to harness cargo data for digital trade finance
The Hong Kong Monetary Authority has launched an Expert Panel on Project Cargox to enhance the digital trade finance ecosystem by leveraging cargo data. This multi-year initiative aims to streamline trade finance processes, improve SME access to finance, and explore international data partnerships. The panel will produce a roadmap by end-2025 for digitising cargo data and integrating it with the Commercial Data Interchange.