HSBC announced that it has successfully completed the pilot case of cross-border credit information interconnection. This program is a measure of the Hong Kong Monetary Authority and the People’s Bank of China to enhance the credit evaluation process of banks through cross-border credit data interconnection.

HSBC pointed out that this marks another important development in the financial cooperation between Hong Kong and the mainland, promoting cross-border financing activities of enterprises in the two places. In the pilot case, Dun & Bradstreet provided HSBC Hong Kong with credit data of a digital travel platform's mainland parent company. After obtaining the company's onshore credit report, HSBC can more directly and clearly grasp its credit status and financial performance, thereby accelerating the approval of the refinancing quota in Hong Kong.

HSBC's General Manager of Commercial Banking in Greater China and Head of Hong Kong and Macau, Fang Xiao, said that this measure provides greater convenience to banks to evaluate the credit status of companies in the region and promote financing for enterprises. As the market's demand for one-stop cross-border finance continues to increase, HSBC will continue to enhance its related service solutions to help customers grow their business in Hong Kong and other areas.