The Chongqing and Hong Kong authorities announced today (14 October) the launch of the Chongqing-Hong Kong Cross-boundary Data Validation Platform (CQ-HK DVP).
As set out in “The Chief Executive’s 2026 Policy Address”, this new cross-boundary data validation mechanism jointly established with Chongqing is one of the measures for encouraging the orderly flow of financial elements between the Chinese Mainland and Hong Kong. The Hong Kong Monetary Authority (HKMA) facilitated the establishment of the CQ-HK DVP1 together with authorities including the People’s Bank of China Chongqing Municipal Branch, the Office of the Financial Commission of the Chongqing Municipal Committee, the Office of the Cyberspace Affairs Commission of the Chongqing Municipal Committee, and the Hong Kong and Macao Affairs Office of the Chongqing Municipal People’s Government.
Leveraging blockchain technology and data coding (i.e. hash values), the CQ-HK DVP enables the verification of data presented by customers without involving the cross-boundary transfer or storage of the original documents. The relevant innovative technologies and mechanism have been successfully applied and proven to be stable and effective via the Shenzhen-Hong Kong Cross-boundary Data Validation Platform2.
The CQ-HK DVP will mainly support cross-boundary financial use cases at the outset. Banks in Chongqing and Hong Kong are actively advancing use cases involving the validation of both Northbound and Southbound data flows, which will support customers in the two places to engage in diverse banking services, including account opening and loan applications.
Mr Eddie Yue, Chief Executive of the HKMA, said, “Under the ‘Fintech 2030’ strategy, the HKMA is committed to creating next-generation data infrastructure. The CQ-HK DVP will further foster secure and efficient cross-boundary data flow between Chongqing and Hong Kong. We will maintain close liaison with the relevant Mainland authorities, the banking industry, frontier technology companies and other stakeholders to continuously enhance the platform. This, in turn, will benefit residents and corporates from both places and support the development of the real economy.”
Hong Kong Monetary Authority
14 October 2026
1 The platform is operated by Chongqing Credit Co., Ltd and WeBank Technology Services Limited in Chongqing and Hong Kong respectively.
2 The Shenzhen-Hong Kong Cross-boundary Data Validation Platform (SZ-HK DVP) was pilot launched in May 2024 and linked up with the HKMA’s Commercial Data Interchange in April 2025. To date, the usage of the SZ-HK DVP has surpassed 40,000 times, and it has successfully provided assistance to over 10 banks across more than 10 business scenarios, including the validation work required for bank account opening, remittances, and loans. Both Northbound and Southbound data flows have been covered.
