Hong Kong Pushes Paperless Trade Finance Under HKMA CargoX Roadmap

Hong Kong is accelerating a paperless trade finance push as regulators seek to modernise documentation and improve credit access for small and medium-sized enterprises.

The Hong Kong Monetary Authority (HKMA) has released a 20-measure roadmap under Project CargoX to expand paperless trade finance across the city.

The plan focuses on using cargo and trade data to speed up automation, upgrading digital infrastructure to enable paperless documentation, and strengthening connectivity with other jurisdictions including mainland China and ASEAN.

The recommendations were developed by a 24-member expert panel spanning banks, insurers, cargo-data providers, credit bureaus, government bodies and international organisations.