Svmuu News: The Hong Kong Monetary Authority, the Shanghai Municipal Bureau of Data, and the National Blockchain Technology Innovation Center announced today that they have jointly signed the “Memorandum of Understanding on Cooperation in the Digitalization of Freight Trade and Finance between Shanghai and Hong Kong.” This agreement aims to further promote in-depth cooperation between Shanghai and Hong Kong in areas such as the digital empowerment of freight trade and finance, leveraging Hong Kong’s role as a “super connector” and “super value-adder” to facilitate both domestic and international connectivity, and support Shanghai’s connection to the international data ecosystem through Hong Kong. Under the Memorandum of Cooperation, the HKMA, the Shanghai Municipal Data Bureau, and the National Blockchain Technology Innovation Center will jointly explore innovative cooperation in digital technology and applications to drive innovation in the application of digital technology in freight trade, finance, and other sectors. The parties will jointly explore the use of digital technology to build a “cross-border platform,” carry out cross-border financial cooperation under the Ensemble project, study the application of electronic bills of lading, and advance integration with Commercial Data Hub and CargoX to drive trade financing between the two regions using freight and trade data. (Jin Shi)