Coface has contributed expertise to Hong Kong Monetary Authority (HKMA) in the publication of its Project Cargox Recommendation Report, which aims to advance the digital trade finance ecosystem and promote greater transparency and risk management for cross-border transactions.
As one of the 24 members of the Expert Panel established by the HKMA for Project Cargox, Coface contributes its expertise through providing reliable overseas buyer data to support trade digitalization and risk management. It has participated in discussions to support the development of recommendations that would enhance efficiency, transparency and resilience in trade finance.
The initiative, led by the HKMA under its Commercial Data Interchange (CDI) data infrastructure, aims to strengthen Hong Kong’s digital trade finance ecosystem through trusted data.
Coface joined Project Cargox in April 2025 and has since worked closely with HKMA and other participants through onboarding discussions, technical integration exchanges and panel workshops. Such engagements focused on validating practical use cases and data flows to support more efficient trade finance processes.
“In an increasingly complex global trade environment, reliable commercial data plays a critical role in enabling sound decisions and mitigating trade risks for businesses,” said Chris Murphy, General Manager of Hong Kong, Coface. “Project Cargox represents an important step towards a more transparent and digitalized trade finance ecosystem, and we are pleased to be part of this industry effort led by the HKMA.”
Through its participation in the Expert Panel, Coface supports the broader objectives of Project Cargox to improve access to trade finance, enhance operational efficiency and reinforce Hong Kong’s position as a leading international trade finance hub.
Coface remains committed to helping financial institutions and businesses mitigate trade risks and make more informed decision-making across global supply chains.