HKMA publishes Project CargoX Recommendation Report
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) today (January 19) published the "Project CargoX Recommendation Report", which presents 20 recommendations and a roadmap for modernising the trade finance landscape in Hong Kong.
Since the launch of Project CargoX (Note), the HKMA has convened an Expert Panel on CargoX comprising 24 industry experts from banks, cargo data providers, credit reference agencies, export credit insurers, government agencies and international organisations (the member list is available in the Annex). The Expert Panel has contributed valuable insights and concluded the CargoX recommendations and development roadmap in December 2025.
With the vision of maintaining Hong Kong's position as a leading trade financing hub, powered by a robust, globally connected digital trade infrastructure, the report outlines a roadmap for taking forward the recommendations. The HKMA will play a critical role in implementing the roadmap through collaboration with relevant public and private organisations in a series of pilot trials.
Informed by extensive research and industry engagement, a total of 20 recommendations, structured under three strategic pillars of Data, Infrastructure and Connectivity, are put forward in the report:
Data: this pillar focuses on accelerating data-enabled trade finance automation. By integrating strategic government cargo and trade data along with infrastructure, and enabling access to historical trade transaction data, banks'assessment of corporate creditworthiness can be facilitated. This will increase the availability of trade finance, particularly for small and medium-sized enterprises (SMEs).
Infrastructure: this pillar seeks to facilitate the development of digital trade infrastructure to enable paperless trade both in Hong Kong and with overseas trading partners.
Connectivity: this pillar prioritises enhancing connectivity with other jurisdictions including Chinese Mainland and ASEAN, and implementing relevant policies to maintain Hong Kong's competitiveness as a trade and trade finance hub.
Deputy Chief Executive of the HKMAMr Howard Leesaid, "Project CargoX marks a pivotal step in modernising Hong Kong's trade finance ecosystem by integrating advanced digital solutions, optimising cargo and trade data connectivity through our next-generation Commercial Data Interchange infrastructure, and strengthening international links. The recommendations of the CargoX Expert Panel provide a strategic blueprint and actionable roadmap to position Hong Kong as a trusted, data-driven hub for global digital trade. I extend my sincere thanks to the CargoX Expert Panel members, drawn from a rich diversity of experiences spanning both public and private sectors, for their exceptional insights that have shaped this transformative initiative."
The full report is available on the HKMA website.
Note: In April 2025, building on the Commercial Data Interchange data infrastructure, the HKMA launched Project CargoX, a multi-year initiative that aims to enhance the digital ecosystem for trade finance by harnessing the power of cargo and trade data.
HKMA publishes Project CargoX Recommendation Report Source: HKSAR Government Press Releases
HKMA publishes Project CargoX Recommendation Report Source: HKSAR Government Press Releases
CHP urges public to promptly receive seasonal influenza vaccination as another severe paediatric influenza infection case reported
The Centre for Health Protection (CHP) of the Department of Health (DH) today (January 18) recorded a severe paediatric influenza infection case. The CHP again reminded parents to arrange for their children to receive a free seasonal influenza vaccination (SIV) promptly. The SIV remains one of the most effective methods of preventing influenza and its complications, and can reduce the risk of serious complications or death from infection.
The case involves a 14-year-old boy with underlying illness. He developed a fever, shortness of breath and productive cough since January 16. He sought medical attention at the Accident and Emergency Department of Pamela Youde Nethersole Eastern Hospital on January 17 and was transferred to the paediatric intensive care unit for further management on the same day. He is currently in critical condition. His respiratory specimen tested positive for influenza A virus upon laboratory testing. The clinical diagnosis is influenza A infection complicated with severe pneumonia and septic shock.
A preliminary investigation revealed that the boy received the 2025/26 SIV only three days before onset of illness. As it generally takes two weeks for the body to develop sufficient protection after vaccination, the boy was not protected by the vaccine. Therefore, it is not counted as being vaccinated. The boy had no travel history during the incubation period. Two of his household contacts developed mild respiratory symptoms earlier. The nasal swab sample of one of the household contacts tested positive for influenza A virus via rapid antigen test. The symptoms were mild and hospitalisation was not required.
The summer influenza season just ended had recorded 25 severe paediatric influenza cases, including three fatal cases. The affected children were aged between 6 months to 17 years old. Among them, 20 cases (80 per cent) had not received an SIV (including one case who received the 2025/26 SIV only four days before onset of illness).
"The summer influenza season was ended. However, influenza activity may rise again as the weather remains cold in the first quarter of this year and it cannot be ruled out that the circulating virus strains may change as the winter influenza season approaches. Therefore, I once again urge all individuals aged 6 months or older, except those with known contraindications, to act promptly if they have not yet received an SIV. This includes those who contracted influenza during the summer influenza season in order to guard against other circulating virus strains that may emerge during the upcoming winter influenza season. Furthermore, although there are some antigenic differences between the currently circulating influenza A (H3) virus strain and the virus strain contained in the vaccine, scientific research indicates that this season's influenza vaccines can still offer protection against the variant strain of subclade K, as well as the influenza A (H1) and influenza B strains included in the vaccine," the Controller of the CHP, Dr Edwin Tsui, said.
"Although the influenza activity has declined to below the baseline level at the moment, outbreaks caused by influenza viruses still occurred in schools and residential care homes. For children who did not join the SIV School Outreach Programme, parents should promptly bring their children to private doctors enrolled in the Vaccination Subsidy Scheme to receive an SIV. In addition, the SIV coverage rate for children aged 6 months to under 2 years is only about 23 per cent. Although this represents an approximate 4 percentage point increase compared to the same period last year, it is still much lower than that of other age groups. Through the Primary Healthcare Commission, the CHP has urged family doctors to assist in encouraging parents to allow their children to receive an SIV," Dr Tsui added.
He also reminded members of the public that, especially for children, the elderly and those with underlying illnesses, they should seek medical advice promptly for early treatment if they present with fever and respiratory symptoms. As children with influenza can deteriorate rapidly, parents must pay close attention to their children's condition. They should go to an Accident and Emergency Department immediately if the child's condition deteriorates, for example, if they develop symptoms such as shortness of breath, wheezing, blue lips, chest pain, confusion, a persistent fever or convulsions.
Separately, high-risk individuals should wear surgical masks when staying in crowded places. People with respiratory symptoms, even if mild, should wear a surgical mask and seek medical advice promptly. They should also consider whether to attend work or school.
In addition to issuing timely reminders to healthcare professionals and schools based on the latest seasonal influenza development, the CHP also uploads the latest seasonal influenza information on its website weekly. Members of the public can visit the CHP's seasonal influenza and COVID-19 & Flu Express webpages.
Source: AI-created image
