HKMA unveils 20-point road map to modernise Hong Kong’s trade finance ecosystem

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.“For Hong Kong to remain competitive, advancing digital trade finance infrastructure and broadening access to small and medium-sized enterprises [SMEs] will be key priorities,” Lee said in an interview ahead of the road map’s release on Monday.“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 Credit Data Interchange [CDI] infrastructure, and strengthening international links.”The CDI, launched in October 2022, is an electronic platform that allows 26 banks to use data from 17 providers to determine the creditworthiness of SMEs. The CDI had facilitated more than 82,000 loan applications worth HK$66.4 billion (US$9.5 billion) as of December 2025, according to HKMA data.Trade is Hong Kong’s second-largest industry after finance, contributing 15 per cent of gross domestic product. Photo: Jelly TseLoan approvals using CDI data were faster and carried interest rates 36 basis points lower on average than those without, Lee said.