GS1 Hong Kong Applauds HKMA's Project Cargox Recommendation Report, Supporting Hong Kong's Digital Trade Future with Reliable Data Foundation

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HONG KONG, Jan. 19, 2026 /PRNewswire/ -- GS1 Hong Kong ("GS1 HK") is pleased to share the Hong Kong Monetary Authority's ("HKMA") release of the Project Cargo^X Recommendation Report, for which GS1 HK served as a member of the Project Cargo^X Expert Panel. Developed through extensive collaboration among the HKMA, industry leaders, and international experts, the report outlines a strategic roadmap featuring 20 recommendations built on three core pillars—Data, Infrastructure, and Connectivity—to position Hong Kong as a trusted, data-driven global hub for supply chain and trade finance.

GS1 HK strongly endorses the report's call for the 'adoption of globally interoperable data and documentary standards'. Core of trade begins with a product, which then generates logistics and supply chain data. Only by utilizing granular trade data can we build a more transparent and efficient supply chain and provide reliable data for trade finance purposes. The key is that the data complies with international standards and is globally interoperable, forming the cornerstone of seamless cross-border digital trade. GS1, as a globally recognized data standards organization¹, sets a common language for global businesses through standards such as the Global Trade Item Number (GTIN, also known as the barcode) and the Global Location Number (GLN). These standards enable interoperability across diverse systems, facilitating seamless identification, capture, and sharing of supply chain data—from manufacturing and sourcing to retail—which simplifies logistics and enhances traceability.

In addition to providing global standards, GS1 HK has been supporting the Hong Kong industry with EDI-standard based B2B e-commerce platform, ezTRADE, which facilitates paperless trading and the exchange of electronic orders, invoices and shipment notices among trading parties. In fact, as a trade finance data provider, GS1 HK has already been operationalizing 'the vision' by connecting ezTRADE Data Management Portal to HKMA's Commercial Data Interchange ("CDI"), and we have successfully helped SMEs secure credit funding by utilising their transactional data as a reliable alternative data for banks' credit assessments. We are also pursuing to include GLN as the corporate digital identifier, an alternative data source for supporting banks' Know-Your-Customer (KYC) processes. This aligns directly with the report's recommendation to 'enable access to historical trade transaction data' and 'promote digital identity in trade transactions'.

Furthermore, we support the report's initiatives to 'integrate strategic government cargo and trade data sources and infrastructure' and 'strengthen Chinese Mainland connectivity'. GS1 HK has been facilitating the incorporation of GTINs into the Port Community System (PCS) to enhance accuracy and efficiency in trade declarations and to enable seamless cross‑border data exchange with China's Single Window system, where GTINs are already required for import declarations.

Ms. Anna Lin, Chief Executive of GS1 Hong Kong, said, "We believe that GS1 HK's ongoing initiatives and GS1 global standards are foundational to advancing the three pillars of Data, Infrastructure and Connectivity. Moving forward, GS1 HK is committed to supporting the report's initiatives and exploring ways to broaden CDI-enabled data sets with product and company information, as well as trade insights for banks. We will continue to work closely with the HKMA, government bodies and other stakeholders in the trade ecosystem to realize Hong Kong's vision of becoming a globally connected trade and supply chain hub." 

For more information, please visit https://cdi.hkma.gov.hk/wp-content/uploads/Project_CargoX_Recommendation_Report.pdf to learn more about the Project Cargo^x Recommendation Report.

About GS1 Hong Kong

GS1 Hong Kong is the local chapter of GS1®, a global, not-for-profit data standards organization headquartered in Brussels, Belgium and represented in over 120 economies. We help businesses identify, capture, and share trusted data across both physical and digital supply chains. Through global standards like GTIN (barcodes) and standard-based platforms, GS1 Hong Kong empowers companies to improve efficiency and enhance visibility.

In today's AI-driven economy, data quality is essential. GS1 Hong Kong provides a foundation for data that is accurate, searchable, shareable, and traceable.

GS1 Hong Kong currently supports close to 8,000 corporate members from 20 sectors including retail & consumer goods, food & beverage and food services, healthcare, apparel & footwear, logistics & ICT. By working closely with industry stakeholders and government, we foster a collaborative ecosystem to "Go Digital • Go Green".

Website: www.gs1hk.org

SOURCE GS1 Hong Kong