HKMA launches CargoX Pilot Programme
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) today (May 7) announced the launch of the CargoX Pilot Programme. Through a series of innovative projects with 21 participating banks (see Annex 1), the HKMA will take deep dives into cargo and trade data use cases, leveraging the Commercial Data Interchange (CDI) data infrastructure, with a view to advancing trade finance digitalisation and unlocking greater trade finance availability for Hong Kong's small and medium-sized enterprises (SMEs).
In collaboration with relevant government agencies and industry stakeholders, the HKMA is actively taking forward the 20 recommendations under the Data, Infrastructure and Connectivity pillars set out in the "Project CargoX Recommendation Report" published in January this year. The Pilot Programme will take a step forward by facilitating the iterative validation of cargo and trade data initiatives through a series of pilot transactions.
The integration of cargo and trade data will transform banking operations and trade finance processes, thereby assisting SMEs, particularly importers and exporters, in addressing the existing pain points in obtaining financing. Twenty-one banks with material trade finance businesses will actively participate in the Pilot Programme. These banks have established their own dedicated cross-functional taskforce to support the development of projects under the Pilot Programme.
In 2026 and 2027, a number of pilot projects (see Annex 2) will focus on four key areas, including integrating with key cargo and trade data platforms, combining SME trade flow and cash flow data for banks' multi-dimensional credit assessment, adopting Digital Corporate Identity to enable trusted data sharing, and enhancing connectivity with key trade corridors.
Deputy Chief Executive of the HKMA Mr Howard Leesaid, "The launch of the CargoX Pilot Programme marks a key milestone in translating the CargoX recommendations into action. We appreciate the strong commitment as reflected by the active participation of 21 participating banks, relevant government agencies and other key stakeholders in the trade and trade finance ecosystem. Through co-ordinated exploration of concrete cargo and trade data use cases under the Pilot Programme, CargoX will drive trade finance digitalisation and better serve the real economy, thereby consolidating Hong Kong's position as a leading trade and trade finance hub."
Over 300 representatives from participating banks of the CargoX Pilot Programme gather at a workshop hosted by the Hong Kong Monetary Authority to discuss details of the innovative projects today (May 7). Source: HKSAR Government Press Releases
Tender of 2-year RMB HKSAR Institutional Government Bonds through re-opening to be held on May 14
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced today (May 8) that a tender of 2-year RMB institutional Government Bonds (Bonds) through the re-opening of existing 3-year Government Bond issue 03GB2807001 under the Infrastructure Bond Programme will be held on May 14, 2026 (Thursday), for settlement on May 18, 2026 (Monday).
An additional amount of RMB0.75 billion of the outstanding 3-year Bonds (issue no. 03GB2807001) will be on offer. The Bonds will mature on July 28, 2028 and will carry interest at the rate of 1.59 per cent per annum payable semi-annually in arrear. The Indicative Pricings of the Bonds on May 8, 2026 are 100.15 with a semi-annualised yield of 1.521 per cent.
Tender is open only to Primary Dealers appointed under the Infrastructure Bond Programme. Anyone wishing to apply for the Bonds on offer can do so through any of the Primary Dealers on the latest published list, which can be obtained from the Hong Kong Government Bonds website at www.hkgb.gov.hk. Each tender must be for an amount of RMB50,000 or integral multiples thereof.
Tender results will be published on the HKMA's website, the Hong Kong Government Bonds website, Bloomberg (GBHK <GO>) and Refinitiv (IBPGSBPINDEX). The publication time is expected to be no later than 3pm on the tender day.
HKSAR Institutional Government Bonds Tender Information
Tender information of 2-year RMB HKSAR Institutional Government Bonds:
Issue Number |
: |
03GB2807001 |
Stock Code |
: |
85039 (HKGB1.59 2807-R) |
Tender Date and Time |
: |
May 14, 2026 (Thursday)
9.30am to 10.30am |
Issue and Settlement Date |
: |
May 18, 2026 (Monday) |
Amount on Offer |
: |
RMB0.75 billion |
Maturity |
: |
2 years |
Remaining maturity |
: |
Approximately 2.20 years |
Maturity Date |
: |
July 28, 2028 (Friday) |
Interest Rate |
: |
1.59 per cent p.a. payable semi-annually in arrear |
Interest Payment Dates |
: |
January 28 and July 28 in each year, commencing on the Issue Date up to and including the Maturity Date, subject to adjustment in accordance with the terms of the Institutional Issuances Information Memorandum of the Infrastructure Bond Programme and Government Sustainable Bond Programme (Information Memorandum) published on the Hong Kong Government Bonds website. |
Method of Tender |
: |
Competitive tender |
Tender Amount |
: |
Each competitive tender must be for an amount of RMB50,000 or integral multiples thereof. Any tender applications for the Bonds must be submitted through a Primary Dealer on the latest published list.
The accrued interest to be paid by successful bidders on the issue date (May 18, 2026) for the tender amount is RMB239.59 per minimum denomination of RMB50,000.
(The accrued interest to be paid for tender amount exceeding RMB50,000 may not be exactly equal to the figures calculated from the accrued interest per minimum denomination of RMB50,000 due to rounding). |
Other Details |
: |
Please see the Information Memorandum available on the Hong Kong Government Bonds website or approach Primary Dealers. |
Expected commencement date of dealing on
the Stock Exchange
of Hong Kong Limited |
: |
The tender amount is fully fungible with the existing 03GB2807001 (Stock code: 85039) listed on the Stock Exchange of Hong Kong. |
Use of Proceeds |
: |
The Bonds will be issued under the institutional part of the Infrastructure Bond Programme. Proceeds will be invested in infrastructure projects in accordance with the Infrastructure Bond Framework published on the Hong Kong Government Bonds website. |
Source: AI-found images
