In the latest "2024 World Competitiveness Report" released by the International Institute for Management Development in Lausanne, Switzerland, Hong Kong's ranking has risen two places to fifth globally, ranking first in "international trade" and "business regulations". Hong Kong provides trade financing channels and platforms for small and medium-sized enterprises in the mainland to carry out international business with the advantage of being an international financial center. Among them, the "Trade Link" launched by the Hong Kong Monetary Authority is a trade financing platform developed jointly by a consortium of 12 major banks in Hong Kong based on blockchain technology. It improves efficiency by digitizing trade documents, automating trade financing processes, and utilizing the functions of blockchain technology, increases trust among trade participants, reduces trade risks, and solves trade financing problems, helping small and medium-sized enterprises to develop. It provides a very important commercial and financing platform for enterprises to carry out international trade and participate in the construction of the Belt and Road.
