HKMA publishes report with roadmap for digital trade finance
The Hong Kong Monetary Authority today published the 'Project Cargox Recommendation Report', outlining 20 recommendations and a roadmap to modernise the trade finance landscape in Hong Kong.
A blueprint for digital trade
The Hong Kong Monetary Authority (HKMA) today published the 'Project Cargox Recommendation Report', which outlines 20 recommendations and a strategic roadmap to modernise the trade finance landscape in Hong Kong.
The report's vision is to maintain Hong Kong's position as a leading trade financing hub, supported by a robust and globally connected digital trade infrastructure.
The 20 recommendations are structured under three strategic pillars: Data, Infrastructure, and Connectivity.
The HKMA will play a critical role in implementing this roadmap through collaboration with relevant public and private organisations via pilot trials.
Mr Howard Lee, Deputy Chief Executive of the HKMA, highlighted the initiative's importance, stating, 'Project Cargox marks a pivotal step in modernising Hong Kong's trade finance ecosystem by integrating advanced digital solutions, optimising cargo and trade data connectivity through our next-generation Commercial Data Interchange infrastructure, and strengthening international links.'
The full report, informed by extensive research and industry engagement, is available on the HKMA website.
Experts shape the roadmap
Since the launch of Project Cargox, the HKMA convened an Expert Panel on Cargox.
This panel comprised 24 industry experts from diverse backgrounds, including banks, cargo data providers, credit reference agencies, export credit insurers, government agencies, and international organisations.
The Expert Panel contributed valuable insights and concluded the Cargox recommendations and development roadmap in December 2025.
Mr Nelson Chow, Executive Director (Financial Infrastructure) of the Hong Kong Monetary Authority, chairs the Project Cargox Year-end Forum.
The panel's collective expertise was instrumental in shaping the 20 recommendations and the development roadmap presented in the 'Project Cargox Recommendation Report'.
Blueprint, now for the build
This report provides a crucial strategic framework for Hong Kong to solidify its position as a global trade finance leader.
Its success, however, hinges on the effective execution of pilot trials and sustained collaboration across diverse stakeholders.
While a comprehensive blueprint, the tangible impact will only materialize through diligent implementation of its ambitious digital agenda.