– The HKTDC continues to assist SMEs take digital trade chances by co-hosting with the ICC DSI a masterclass on innovations such as electronic expenses of lading and blockchain. More than 200 SMEs participated.
– Prof Frederick MaChairman of the HKTDC, stressed that Hong Kong is actively establishing its digital trade environment, with a concentrate on development, effectiveness and global cooperation, to combine its competitive benefits. As digital trade ends up being more typical, the HKTDC will guarantee Hong Kong organizations continue to prosper and boost the city’s function as a leading supply chain center.
– Pamela MarManaging Director of ICC DSI, kept in mind that by aligning its financing, trade and logistics sectors with worldwide digital trade requirements, Hong Kong can stay competitive and durable on the world phase and is well-positioned to spearhead Asia’s digital-trade advancement.
– Andy LamDeputy Secretary for Commerce and Economic Development of the HKSAR Government, stated that the Government is referring to the Model Law on Electronic Transferable Records and is thinking about legal modifications to eliminate the legal difficulties in the digitalisation of trade files. The target is to send the appropriate legal proposition to the Legislative Council next year to assist market establish technical options based upon their real requirements.
HONG KONG, July 28, 2025 – (ACN Newswire) –Digitalisation is improving the international economy, and business should accept digital improvement to capitalise on brand-new chances. The 2025-26 Budget revealed that the Hong Kong Special Administrative Region (HKSAR) Government would refer to the Model Law on Electronic Transferable Records (MLETR) promoted by the United Nations Commission on International Trade Law (UNCITRAL) and think about legal modifications to help with digitalisation of trade files. The legal proposition will be sent to the Legislative Council next year. The MLETR is a worldwide basic promoted by the UNCITRAL to offer a legal structure for electronic trade files. Lining up regional legislation with requirements of the MLETR is a significant endeavour in promoting trade digitalisation. In line with these efforts,the Hong Kong Trade Development Council(HKTDC) andthe International Chamber of Commerce Digital Standards Initiative(ICC DSI) co-hosted the”Digital Trade Masterclassat the Hong Kong Convention and Exhibition Centre to analyze the MLETR’s possible effect on Hong Kong’s cross-border trade. Market professionals shared useful insights on digital improvement, assisting gear up organizations with the details they require to boost their high value-added service abilities. More than 200 SMEs took part in the occasion.
As a worldwide monetary and trading centre and a leading re-export center, Hong Kong has the ability to capitalise on its distinct benefits to enhance connection, acting as a bridge connecting the mainland and worldwide markets. It offers high-standard expert services, robust monetary facilities and an ingenious environment for worldwide trade. The HKTDC works carefully with the HKSAR Government to highlight the city’s strength in providing high value-added services throughout the trade supply chain.
Speaking at the occasion,Prof Frederick Ma, Chairman of the HKTDCstated that with the altering trade landscape, there was no much better time to enhance Hong Kong’s competitive benefits. “Hong Kong is actively establishing its digital trade community, with a concentrate on development, effectiveness and global partnership, to combine its competitive benefits. As digital trade ends up being more typical, we are devoted to ensuring Hong Kong companies continue to prosper. It is likewise a fantastic chance to strengthen our city’s function as a leading supply chain center. The HKTDC is devoted to assisting organizations utilize ingenious innovations to gear up organizations to be future-ready. Our Asian Logistics, Maritime and Aviation Conference (ALMAC) takes a look at patterns in international trade and supply chains, development and digitalisation, while our assistance programs, consisting of Transformation Sandbox, assistance business scale up their abilities in crucial locations, consisting of digital change and supply chain options, to empower SMEs and start-ups to take advantage of digital trade.”
Pamela Mar, Managing Director of the ICC DSIthinks Hong Kong, as a global trade and logistics center currently lined up with international requirements, will lead Asia’s future digital trade advancement by staying competitive and durable amidst a moving international landscape. “Finance, trade and logistics comprise over 45 % of Hong Kong’s economy, so speeding up digitalisation in these sectors will have a favorable economy-wide effect.”, stated Pamela Mar. “Hong Kong is well-positioned to end up being a leader in this area by lining up worldwide requirements and structure on its strength as a relied on center. The adoption of MLETR is an essential action, supplying legal certainty for electronic files like expenses of lading, while improving procedures and improving traceability. Legal reform is just the start– even higher gains lie in the personal sector stepping up its digital change, which can be improved by Web3 innovations.”
Andy Lam, Deputy Secretary for Commerce and Economic Development of the HKSAR Governmentstated, “The HKSAR Government is dedicated to promoting an effective service environment and keeping the global competitiveness of Hong Kong. Helping with the digitalisation of trade files belongs to this method. We prepare for that the market would actively offer feedback and permit the Government to develop a legal structure that remains in line with the requirements of the market, on which basis the market might propose various technical options. On the other hand, the Government is likewise pushing ahead with Phase 3 of the Trade Single Window, which will not just assist in the market in their submission of business-to-government trade files such as import and export statements, however will likewise get in touch with the Hong Kong Monetary Authority (HKMA)’s Commercial Data Interchange (CDI) to help with banks in accessing pertinent information to process trade funding.”
Market specialists talk about obstacles in trade digital change
Speeding up digital improvement throughout every link of the supply chain presents special difficulties. At the Masterclass, the conference united professionals in digital trade financing, electronic costs of lading, digital freight and logistics, and digital retail supply chain management to share their useful experience and insights dealing with digital improvement.
Kenise Sin, Senior Data Analyst in the Financial Infrastructure Department at the HKMAdescribed: “SMEs’ access to trade financing has actually long been prevented by various discomfort points while doing so. The heavy reliance on paper-based files has actually led to inadequacies and troubles in tracking and confirming the deals.” She included that HKMA intends to create a digitalisation roadmap for sea, roadway and air transport freight information by the end of this year, incorporating freight information sources throughout jurisdictions with the HKMA’s CDI, to improve information sharing. In the coming 2 years, the HKMA will likewise deal with the Airport Authority Hong Kong, the Transport and Logistics Bureau along with pilot banks to utilize freight information and CDI to enhance digital trade financing.
Erik Kwok, Head of Technology and Operations at Air8— which establishes a supply chain financing platform for cross-border trade– echoed these issues: “Many little to medium-sized exporters battle to protect financing due to insufficient information for credit evaluations, impeding their capability to complete internationally. These barriers are intensified by inadequate assistance for danger management techniques, leaving SMEs susceptible in a quickly developing market.”
Another visitor speaker,Sweet Chan, Product Manager at IQAXdescribed how digitalising costs of lading can conserve both time and expenses, increasing the effectiveness of the whole trade environment. She stated numerous banks, freight forwarders, and customizeds systems still run on fragmented digital platforms and do not have interoperability. Blockchain, she argued, can bridge these silos: “Each trading partner has distinct functional requirements when embracing blockchain networks in digital platforms. In cross-border trade, trading and shipping files are exchanged, and digitalised files within a blockchain network can resolve trust concerns within and throughout networks, backed by MLETR.”
Image download: http://bit.ly/4lNB4t9
Prof Frederick MaChairman of the HKTDC participated in the Digital Trade Masterclass and provided the opening remarks on 28 July.
(From left)Andy LamDeputy Secretary for Commerce and Economic Development, HKSAR Government;Prof Frederick MaChairman of the HKTDC; andPamela MarManaging Director, ICC DSI.
Market professionals shared insights and difficulties on digital change. Photo reveals visitor speakers from the Digital Trade Masterclass with the officiating visitors.
(From left)Kenise SinSenior Data Analyst, Financial Infrastructure Department, HKMA;Jack LeeChief Operating Officer, GS1 Hong Kong;Bertrand ChenChief Executive Officer, Global Shipping Business Network;Andy LamDeputy Secretary for Commerce and Economic Development, HKSAR Government;Prof Frederick MaChairman of the HKTDC;Pamela MarManaging Director, ICC DSI;Ivy TseCo-Chief Executive Officer & & Co-founder, FreightAmigo;Erik KwokHead of Technology and Operations, Air8; andSweet ChanProduct Manager, IQAX.
Over 200 SMEs went to the Digital Trade Masterclass, showing strong interest.
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About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body developed in 1966 to promote, help and establish Hong Kong’s trade. With over 50 workplaces internationally, consisting of 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way worldwide financial investment and service center. The HKTDC arranges global exhibits, conferences and service objectives to produce company chances for business, especially little and medium-sized business (SMEs), in the mainland and worldwide markets. The HKTDC likewise supplies updated market insights and item details by means of research study reports and digital news channels. For additional information, please see: www.hktdc.com/aboutus.
Subject: Press release summary
