Shanghai innovates cross-border data services, systematically resolving the three major challenges of compliance, trust, and cost.

At the recently held 2026 Shanghai Digital City Activity Month themed day, Qian Xiao, deputy director of the Shanghai Municipal Data Bureau, mentioned a new term"head-to-head." Relying on the shipping and trade blockchain network, Shanghai's "head-to-head" cross-border data service facility has systematically solved three major challenges: cross-border compliance, cross-border trust, and cross-border costs. Currently, Shanghai has established service connections with 8 banks in Hong Kong, including HSBC, Hang Seng Bank, and Bank of China (Hong Kong). For a cross-border trade financing deal, before a bank can disburse funds, it must first "establish trust"confirming that the trade is real, with contracts, invoices, bills of lading, and customs declarations; and confirming that the company is compliant, has not been placed on a dishonesty list, and has no history of fraudulent trade. On the other hand, data outbound transfer is subject to clear constraintsa company's trade data, order information, and logistics documents are both commercial secrets and involve cross-border compliance.