Cross-boundary platform verifies data without transferring documents
Chongqing and Hong Kong authorities launched the Chongqing-Hong Kong Cross-boundary Data Validation Platform (CQ-HK DVP) on October 14, 2026. The mechanism implements a measure in the Chief Executive's 2026 Policy Address.
Hashes replace cross-boundary document transfers
The Hong Kong Monetary Authority (HKMA) facilitated the CQ-HK DVP with the People's Bank of China Chongqing Municipal Branch, the Office of the Financial Commission of the Chongqing Municipal Committee, the Office of the Cyberspace Affairs Commission of the Chongqing Municipal Committee and the Hong Kong and Macao Affairs Office of the Chongqing Municipal People's Government.
Blockchain technology and hash values enable verification of customer data without cross-boundary transfer or storage of original documents.
Banks in both cities are advancing Northbound and Southbound use cases for account opening and loan applications.
The mechanism supports the orderly flow of financial elements between the Chinese Mainland and Hong Kong.
Shenzhen precedent exceeds 40,000 uses
Chongqing Credit Co.
, Ltd and WeBank Technology Services Limited operate the platform in Chongqing and Hong Kong respectively.
The Shenzhen-Hong Kong Cross-boundary Data Validation Platform piloted in May 2024 and connected to the HKMA's Commercial Data Interchange in April 2025.
Usage has surpassed 40,000 times, assisting over 10 banks across more than 10 business scenarios, including account opening, remittances and loans.
It covers both directions of data flow; the HKMA reports that its technology and mechanism have proven stable and effective.
Infrastructure before broader adoption
HKMA Chief Executive Eddie Yue places the platform under the Fintech 2030 strategy for next-generation data infrastructure.
Its initial focus is financial services for residents and corporates in both cities.
Yue says continued liaison with Mainland authorities, banks, technology firms and other stakeholders will support platform enhancements.