Hong Kong Monetary Authority: Blockchain-based "trade linkage" platform provides business and financing support for enterprises to participate in the Belt and Road Initiative

In the latest "2024 World Competitiveness Annual Report" released by the Lausanne International School of Management Development in Switzerland, Hong Kong rose two places to fifth in the world, and ranked first in the world in "international trade" and "business regulations". Hong Kong provides trade financing channels and platforms for small and medium-sized enterprises in the mainland to conduct international business with the advantages of an international financial center. Among them, the "Trade Linkage" launched by the Hong Kong Monetary Authority is a trade finance platform based on blockchain technology and jointly developed by an alliance of 12 major banks in Hong Kong. By digitizing trade documents, automating trade finance processes and leveraging the functions of blockchain technology to improve efficiency, increase the trust of trade participants, and reduce trade risks, it can solve trade finance problems and help small and medium-sized enterprises develop. It provides a very important business and financing platform for enterprises to carry out international trade and participate in the construction of the Belt and Road Initiative.