HKMA Publishes Project Cargox Report with 20 Trade Finance Recommendations

The Hong Kong Monetary Authority (HKMA) published the “Project Cargox Recommendation Report”, setting out 20 recommendations and a roadmap to modernise Hong Kong’s trade finance sector.

Since the launch of Project Cargox, the HKMA has convened an Expert Panel of 24 industry professionals from banks, cargo data providers, credit reference agencies, export credit insurers, government bodies and international organisations.

The panel contributed to the recommendations and development roadmap, finalised in December 2025.

The report outlines three strategic pillars.

The Data pillar aims to accelerate data-driven trade finance automation by integrating government cargo and trade data and providing access to historical trade transactions, helping banks assess corporate creditworthiness and improving trade finance availability for SMEs.

The Infrastructure pillar seeks to support digital trade systems to enable paperless trade in Hong Kong and with overseas partners.

The Connectivity pillar emphasises links with other jurisdictions, including the Chinese Mainland and ASEAN, alongside policies to maintain Hong Kong’s competitiveness as a trade and trade finance centre.

Howard Lee, Deputy Chief Executive of the HKMA, said:

Howard Lee

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