The Hong Kong Monetary Authority (HKMA) has unveiled a road map to introduce 20 measures under a five-year initiative aimed at modernising the city’s trade finance landscape and strengthening connectivity with mainland China and Asean trade corridors.
Project CargoX, part of HKMA’s Fintech 2030 strategy, would use blockchain and data to help exporters secure bank loans more easily and strengthen Hong Kong’s role as an international trading hub, said Howard Lee Tat-chi, deputy chief executive of HKMA.
