The Hong Kong SAR Government announced plans to introduce an amendment bill to the Electronic Transactions Ordinance (Cap. 553) within 2026 to facilitate the digitalisation of Business-to-Business (B2B) trade documents. Secretary for Commerce and Economic Development Algernon Yau provided the written reply in the Legislative Council on October 14, 2026.
Legislative Framework and Standards
According to the Government, legislative amendments are being advanced with reference to the Model Law on Electronic Transferable Records (MLETR) advocated by the United Nations Commission on International Trade Law. The MLETR adopts a functional approach to give electronic transferable records legal effect while upholding technological neutrality.
The Government stated that its current focus is establishing a clear legal framework and promoting cross-boundary interoperability rather than introducing a mandatory accreditation regime. This approach allows enterprises to select suitable technological solutions based on their business needs.
Trade Finance and Cross-Boundary Platforms
The Hong Kong Monetary Authority (HKMA) is advancing trade finance digitalisation through Project CargoX. The CargoX Pilot Programme was launched in May 2026 with 21 participating banks to facilitate the iterative validation of cargo and trade data initiatives.
Additionally, the HKMA collaborated with the Shanghai Data Bureau to establish 'CargoX Connect,' linking the Commercial Data Interchange with a digital trade platform from Shanghai. The project has enabled five pilot banks to approve 10 trade finance loans amounting to $180 million using regional trade declaration data.
Key facts and where they come from
- The Government will introduce an amendment bill to the Electronic Transactions Ordinance within the year.
will introduce an amendment bill to the Electronic Transactions Ordinance (Cap. 553) into the Legislative Council within this year.
- The CargoX Pilot Programme was launched in May 2026 with 21 participating banks.
the CargoX Pilot Programme was launched in May 2026 to facilitate the iterative validation of cargo and trade data initiatives.
- The CargoX Connect pilot project has enabled the approval of 10 trade finance loans totaling $180 million.
this pilot project has enabled the approval of 10 trade finance loans amounting to $180 million.
