The Times Australia
News From Asia

.

GS1 Hong Kong as the First Batch of Participant in CDI’s Initiative Unlocking the Next Generation of Trade Finance Service for SMEs

HONG KONG SAR - Media OutReach - 24 October 2022 - GS1 Hong Kong (GS1 HK) welcomes the launch of Commercial Data Interchange (CDI) by the Hong Kong Monetary Authority (HKMA) today.

As the first batch of CDI participants, we fully commit to support the next generation digital trade finance services through the offering of trusted digital trade data from GS1 Hong Kong's ezTRADE, a long-serving B2B order-to-cash platform.

Anna Lin, Chief Executive, GS1 Hong Kong
Anna Lin, Chief Executive, GS1 Hong Kong

As one of the first key collaboration partners in HKMA's CDI pilot project since its inception in 2020, GS1 HK has successfully launched its ezTRADE Data Management Portal connecting to CDI as Data Provider.

GS1 HK has been digitising trade by connecting buyers and suppliers through ezTRADE for more than 20 years. It is being used by a range of industries like fast-moving consumer goods (FMCG) and food and beverage (F&B) companies, including 95% of local supermarkets, 79% of hospital drugs supply chains and 70% of Hong Kong-styled fast food restaurant groups today.

GS1 HK has been partnering with banks to offer digital trade financing, which aims to help business get working capital easier and faster. The up-to-date and trusted transactional data such as purchase orders and invoices reflect the latest financial health of the borrowers. With the consent from the borrowers, banks can get the reliable data from ezTRADE as alternative data to accelerate the credit assessment and approval processes.

In addition, we have been helping banks to build a trade financing workflow system that bridges their own applications to CDI, saving their development efforts while facilitating secure sharing of data. As a data provider with expertise to support connectivity between banks and the CDI, GS1 HK plays a pivotal role in digitising trade and shaping the digital trade financing landscape.

"We are excited to have partnered with banks to offer new financial services to our ezTRADE suppliers community. Not only does this new offering speed up SMEs' access to working capital, but as well provide banks with trusted up-to-date trade data to offer better loan facilities and continuously monitor the borrowers' health. CDI provides an efficient and scalable ecosystem to collaborate with more financial service providers," said Dr. Stephen Lam, Chief Operating Officer of GS1 HK.

Instead of multiple one-to-one connections between banks and sources of commercial data, CDI enables each bank and data provider to have a single connection to CDI, making data sharing more secure, efficient, and scalable.

"By providing alternative data for banks to enable more streamlined and hassle-free services to SMEs, we have been bringing great value to the SMEs in their continued digitalisation journey. We look forward to working with more banks, third party logistics providers, technology partners and other stakeholders in the digital trade financing ecosystem, empowering more innovative services to the SMEs," said Anna Lin, Chief Executive of GS1 HK.

Hashtag: #GS1HongKong

The issuer is solely responsible for the content of this announcement.

About GS1 Hong Kong

Founded by the Hong Kong General Chamber of Commerce in 1989, GS1 Hong Kong (GS1 HK) is the local chapter of GS1®, which supports companies' digitalisation to enhance supply chain transparency and efficiency, ensure product authenticity, and facilitate online and offline commerce with global supply chain standards (product identification key and barcode) and a full spectrum of standard-based platforms, solutions and services.

Currently, GS1 HK has around 8,000 corporate members covering close to 20 industries including retail consumer goods, food and food services, healthcare, apparel, logistics as well as information and technology. By engaging with communities of trading partners, industry organisations, government, and technology providers, GS1 HK is fostering a collaborative ecosystem with the vision of "Smarter Business, Better Life".

Headquartered in Brussels, Belgium, GS1® is a not-for-profit, standards organisation that has 115 national chapters serving 150 economies globally. For more information, please visit .

Times Magazine

Headless CMS in Digital Twins and 3D Product Experiences

Image by freepik As the metaverse becomes more advanced and accessible, it's clear that multiple sectors will use digital twins and 3D product experiences to visualize, connect, and streamline efforts better. A digital twin is a virtual replica of ...

The Decline of Hyper-Casual: How Mid-Core Mobile Games Took Over in 2025

In recent years, the mobile gaming landscape has undergone a significant transformation, with mid-core mobile games emerging as the dominant force in app stores by 2025. This shift is underpinned by changing user habits and evolving monetization tr...

Understanding ITIL 4 and PRINCE2 Project Management Synergy

Key Highlights ITIL 4 focuses on IT service management, emphasising continual improvement and value creation through modern digital transformation approaches. PRINCE2 project management supports systematic planning and execution of projects wit...

What AI Adoption Means for the Future of Workplace Risk Management

Image by freepik As industrial operations become more complex and fast-paced, the risks faced by workers and employers alike continue to grow. Traditional safety models—reliant on manual oversight, reactive investigations, and standardised checklist...

From Beach Bops to Alpine Anthems: Your Sonos Survival Guide for a Long Weekend Escape

Alright, fellow adventurers and relaxation enthusiasts! So, you've packed your bags, charged your devices, and mentally prepared for that glorious King's Birthday long weekend. But hold on, are you really ready? Because a true long weekend warrior kn...

Effective Commercial Pest Control Solutions for a Safer Workplace

Keeping a workplace clean, safe, and free from pests is essential for maintaining productivity, protecting employee health, and upholding a company's reputation. Pests pose health risks, can cause structural damage, and can lead to serious legal an...

The Times Features

Duke of Dural to Get Rooftop Bar as New Owners Invest in Venue Upgrade

The Duke of Dural, in Sydney’s north-west, is set for a major uplift under new ownership, following its acquisition by hospitality group Good Beer Company this week. Led by resp...

Prefab’s Second Life: Why Australia’s Backyard Boom Needs a Circular Makeover

The humble granny flat is being reimagined not just as a fix for housing shortages, but as a cornerstone of circular, factory-built architecture. But are our systems ready to s...

Melbourne’s Burglary Boom: Break-Ins Surge Nearly 25%

Victorian homeowners are being warned to act now, as rising break-ins and falling arrest rates paint a worrying picture for suburban safety. Melbourne residents are facing an ...

Exploring the Curriculum at a Modern Junior School in Melbourne

Key Highlights The curriculum at junior schools emphasises whole-person development, catering to children’s physical, emotional, and intellectual needs. It ensures early year...

Distressed by all the bad news? Here’s how to stay informed but still look after yourself

If you’re feeling like the news is particularly bad at the moment, you’re not alone. But many of us can’t look away – and don’t want to. Engaging with news can help us make ...

The Role of Your GP in Creating a Chronic Disease Management Plan That Works

Living with a long-term condition, whether that is diabetes, asthma, arthritis or heart disease, means making hundreds of small decisions every day. You plan your diet against m...