The Hong Kong Monetary Authority (HKMA) has launched the HKMA Cargox pilot programme, partnering with 21 banks to digitalise trade finance and improve credit access for local SMEs.
The initiative uses the city’s Commercial Data Interchange (CDI) data infrastructure to test new cargo and trade data use cases.
By integrating this alternative data into existing banking operations, the regulator aims to address existing pain points that importers and exporters face when applying for financing.
Scheduled to run through 2026 and 2027, the pilot projects will test four main areas.
These include connecting banks with major cargo platforms, combining SME trade and cash flow data for multi-dimensional credit assessments, adopting Digital Corporate Identity for secure data sharing, and strengthening links across key trade corridors.
The pilot follows a recommendation report published by the HKMA in January 2026.
Howard Lee, Deputy Chief Executive of the HKMA, said,
“Through coordinated exploration of concrete cargo and trade data use cases under the Pilot Programme, Cargox will drive trade finance digitalisation and better serve the real economy, thereby consolidating Hong Kong’s position as a leading trade and trade finance hub.”
Featured image credit: Edited by Fintech News Hong Kong, based on image by seanpay52 via Magnific
